Forex: GBP/USD Technical Analysis – Line in the Sand at 1.55
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- Bounce from 1.5482 (38.2% Fib, trend lines from Dec’12 & Jul’13) exposed 1.5571 (23.6% Fib)
- Daily close above 1.5571 targets 1.5720, the June closing high and a possible double top
- Reversal below support aims for 1.5409, the 50% Fib retracement
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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