Forex: GBP/USD Technical Analysis – Support Met Above 1.59
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- A break of support at a rising trend line set from July has exposed 1.5918 (23.6% Fib)
- Pushing downward through initially support targets 1.5707 (38.2% Fib)
- Trend line support-turned-resistance is now at 1.6038; 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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