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British Pound Technical Outlook

Thursday, 31 July 2008 14:03:15 GMT

Written by Jamie Saettele, Senior Currency Strategist

There is no change to the near term GBPUSD bearish outlook.  “It is likely that wave D of the triangle is underway towards 1.9550/1.96. 

This is our stance as long as price is below 2.0075.”  Short term, 1.977 may serve as resistance.

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