gbp-usd
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- Nov, 20 GBP/USD Classical
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GBP/USD – Is in the process of consolidating the heavy setbacks seen on 23Oct after failing by formidable internal range resistance in the 1.6700 area. Any recovery rallies are now expected to be well capped in the 1.6500-6600’s, with a lower top sought out ahead of a fresh downside extension through next key support at 1.6240. Look for a break below initial support at 1.6400 to accelerate.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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