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Forex technical analysis: GBPUSD ping ponging. Bears keep control.

Discussion in 'Technical Analysis' started by ForexLive, Sep 14, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Up and down action between support/resistance levels. Yesterday the GBPUSD trended lower into the NY afternoon session, then died down. The low for yesterday stalled at near the 50% of the move down from the post-Brexiit high to the post-Brexit low. That level comes in at 1.31629 and the low reached 1.3165. So support held at the 50% level (see daily chart below).

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