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GBPUSD: Prices Challenge Channel Top Resistance

GBPUSD: Prices Challenge Channel Top Resistance

2010-07-08 11:01:00
Ilya Spivak, Sr. Currency Strategist
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GBPUSD is testing resistance at the top of a downward sloping channel established from Sep-Nov 2009 (now at 1.5241). A break above this boundary exposes major resistance levels at 1.5529 and 1.5797. I continue to see the trend as broadly bearish and will look for the current upswing to yield an attractive selling opportunity down the road.
 

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