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GBP/USD: Approaching towards short term channel limit – SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Research Team at Societe Generale, suggests that the GBP/USD has breached a multiyear upward channel support (1.46) and looks headed towards graphical levels at 1.36/1.35 (lows of 1986, 2001, 2009).

    Key Quotes

    “Long dated indicators are close hitting a floor pointing towards possibility of consolidation once these levels are achieved. 1.46/1.4750 should cap short term rebound.”
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