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GBP/USD Technical Analysis: Buyers Aim to Retake 1.52

GBP/USD Technical Analysis: Buyers Aim to Retake 1.52

2013-07-17 11:47:00
Ilya Spivak, Head Strategist, APAC
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GBP/USD Technical Analysis – Prices are testing above resistance at 1.5171 marked the 38.2% Fibonacci retracement and reinforced by a formerly broken rising trend line. A daily close above this barrier exposesthe 50% retracement at 1.5281. Near-term supportis at 1.5034, the 23.6% level.

dailyclassics_gbp-usd_body_Picture_5.png, GBP/USD Technical Analysis: Buyers Aim to Retake 1.52

Daily 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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