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GBP/USD and USD/JPY bullish pullbacks in down trend

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD has shown a bullish bounce at support (green). A break below support could see price fall towards the Fibonacci levels. 1 hour The EUR/USD bounce could be part of a larger correction up to resistance (red) which could be marked as wave 1 or A. The break below support invalidates this wave count. GBP/USD 4 hour The GBP/USD has reached the top of the larger downtrend channel, which has created a bearish bounce. The bearish price action, however, has acted corrective so

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