Forex: GBP/USD Technical Analysis – Support Seen Below 1.60
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- We sold GBP/USD at 1.6172 as prices fell having put in a Shooting Star candle, as expected
- Breaking 1.6063 (23.6% Fib) satisfied our first target, exposing 1.5941 (38.2% Fib)
- A break of support exposes 1.5843 (50% Fib); 1.6063 is now acting as resistance
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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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