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Trade Idea Update: GBP/USD - Buy at 1.4505

Discussion in 'Forex Trading Signals & Forecasts' started by Lily, May 20, 2016.

  1. Lily

    Lily Forum Member

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    As cable has retreated after yesterday's rise to 1.4664, suggesting consolidation below this level would be seen and pullback to 1.4525 (previous resistance) cannot be ruled out, however, reckon 1.4498-03 (50% Fibonacci retracement of 1.4332-1.4664 and 61.8% Fibonacci retracement of 1.4403-1.4664) would limit downside and bring another rise later. Above[​IMG]

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