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GBPUSD: Prices Challenge 1.60 Figure

GBPUSD: Prices Challenge 1.60 Figure

2012-03-30 12:06:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Flat

GBPUSD is probing above resistance in the 1.5982-1.5991 area marked by the 50% Fibonacci expansion and the February 29 high, with a break above that exposing the 61.8% Fib level at 1.6071. Positioning does not offer an actionable entry opportunity until a clear breakout is confirmed and we will remain on the sidelines for now.

GBPUSD_Prices_Challenge_1.60_Figure_body_Picture_5.png, GBPUSD: Prices Challenge 1.60 Figure

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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