GBP/USD Technical Analysis – Support Sub-1.60 at Risk
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- Prices are dipping below 1.60 to test support in the 1.5918-37 area (23.6% Fib, trend line)
- Break lower exposes 1.5707-20 region (former double top, 38.2% Fib)
- Near-term resistance is at 1.6259 (Oct 1 high); we are holding short
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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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