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EUR/USD & GBP/USD Arrive at Decisive Resistance Zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD bullish momentum is now near a sturdy confluence of resistance (red/Fib target). 1 hour The EUR/USD made one more bullish bounce last week as part of a wave 4 and 5 (purple). It seems likely that wave 5 has been completed at the most recent high once price manages to break below support (green). Just above price is a strong zone of resistance (red/Fib target). GBP/USD 4 hour The GBP/USD has arrived at a strong confluence of resistance trend lines (red/orange) within

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