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GBP/USD Hits Key 1.6000 Resistance

posted by Avatar jameschen 211 days ago in USD, GBP, Technical made popular 211 days ago

GBP/USD (daily chart) as of Monday (10/24/2011) has extended its rise up to the key 1.6000 psychological resistance level before backing off slightly. This occurs within the context of a steep bullish correction that began after price hit its 1.5270 low in early October. The current 2+ week bullishness has risen to more than 50% of the precipitous
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