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GBP/USD Still Risks Breaking The Down-Trend

Discussion in 'Technical Analysis' started by Kaitlin, May 27, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The Cable underwent the expected correction on Thursday, as supply, represented by the 22-month down-trend and the Bollinger band, was sufficient to prevent the Sterling from appreciating. However, the exchange rate was unable to fall under the nearest support, namely the weekly R1, where demand could attempt to push the[​IMG]

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    The move to the downside might continue for a little while longer.
     

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