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GBP/USD To Launch Another Attack On Monthly R1

Discussion in 'Technical Analysis' started by Kaitlin, Feb 4, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Yesterday, amid broad USD weakness the Cable soared through the weekly R2 and even managed to test the 1.4681/53 resistance area, which consists of the weekly R3 and monthly R1 levels. Since the rally amounted to more than 190 pips, today we may expect a bearish correction to take place.[​IMG]

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