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Why today's price action is key for the GBPUSD

Discussion in 'Technical Analysis' started by ForexLive, May 2, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Breaking but not fully broken... The GBPUSD pushed above a "tough nut to crack area" defined by Fibonacci resistance at 1.46339,, trend line resistance at 1.4650 and a prior swing high at 1.4667. That break sent the price to a new high going back to January 5th. But, the price has since moved back down and in the process moved below the old swing high at 1.4667.

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