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GBPUSD - strong downmove is in corrective phase; daily cloud base tested so far

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro made the biggest fall daily since Feb 26 on yesterday’s bearish acceleration, which closed below pivotal 1.1300 support. Near-term bulls gave up after multiple upside rejections, which triggered fresh weakness and ended week-long consolidation. Today’s fresh extension below important 1.1265 support (yesterday’s low / Fibo 61.8% of 1.1143/1.1463), cracked daily 30SMA (at 1.1238) and came ticks away from next target at 1.1218, double-Fibonacci support (Fibo 76.4% of 1.1143/1.1463

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