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GBP/USD Classical Technical Report 03.23

Friday, 23 March 2012 06:56 GMT

by  Joel Kruger, Technical Strategist

Daily_Classical_GBPUSD_body_gbp.png, GBP/USD Classical Technical Report 03.23

GBP/USD: The market has been mostly confined to trade between the 100 and 200-Day SMAs since early February and until we see a clear break on either end, we will continue to see some choppy range trade. Key levels to watch above and below come in by 1.6000 and 1.5600 respectively and we will wait for a break on either end to establish a clearer directional bias.

--- Written by Joel Kruger, Technical Currency Strategist

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