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GBPUSD - 1.2200 Resistance Caps Today's Action, N/T Focus Is Shifted Lower

Discussion in 'Technical Analysis' started by Kaitlin, Oct 17, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Repeated bearish weekly close maintains pound’s negative sentiment, as Friday’s close in red after two-day recovery, shifted near-term focus lower again. Monday’s price action so far stays below 1.2200 barrier after posting low at 1.2146, just ticks above 1.2142 (Fibo 76.4% of 1.2087/1.2323 recovery leg).[​IMG]

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