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EUR/USD's Bullish Bounce, GBP/USD's Tumble Lower

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD bounced as part of the wave X (blue) support and indeed seems to be expanding the WXY correction. The trend line (orange) at 1.10 is an important resistance spot. A break above that could see price continue its bullish price action towards the 100% Fibonacci levels and thereafter perhaps to the higher Fib targets. 1 hour The EUR/USD bounced at the confluence of 61.8% Fibonacci retracement and 100% Fibonacci target levels. GBP/USD 4 hour The GBP/USD keeps pushing the

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