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EURUSD multiple bounces in triangle, GBPUSD breaks wedge

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD stayed again with the range of the narrow triangle formation by respecting the resistance trend line (orange) and falling back towards support (green). A break of support could see price fall back towards the Fibonacci levels of wave X (brown). A bounce at support could see price go back towards resistance. 1 hour The EUR/USD could have completed a bearish ABC zigzag if price manages to break the inner resistance trend line (orange). GBP/USD 4 hour The GBP/USD has

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