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GBP/USD Classic Technical Report 07.09.2012

GBP/USD Classic Technical Report 07.09.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing below support at 1.5484, the June 28 low. A confirmed break lower exposes 1.5414, followed by the 1.53 figure. Near-term resistance lines up at 1.5555, with a breach above that targeting the July 2 high at 1.5721.

GBPUSD_Classic_Technical_Report_07.09.2012_body_Picture_5.png, GBP/USD Classic Technical Report 07.09.2012

8hr Chart - Created Using FXCM Marketscope 2.0

--- 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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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