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Short-term Trading Idea FX GBP/USD – Wait and See: Likely Rebound From or Break Through Trend

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Trading opportunities for currency pair: There’s no point rushing for the moment. The pound managed to return to the trend line on Friday issuing support from the euro/pound cross. Monday will be decisive since the price will either recoil from the trend or will break through it. We could see a false break before the Bank of England convenes so be careful. If the pound bounces back, the target is 1.5150, if it breaks: 1.5554. I’m not looking at it going any higher for the moment. Background:

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