Forex: GBP/USD Technical Analysis – Trend Line Resistance Ahead
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- A bearish Dark Cloud Cover candle pattern marked a turn lower, as expected
- Support is at 1.5918 (23.6% Fib ret.); resistance is at 1.6159 (trend line from Jul’13)
- Break higher targets 1.6235 (23.6% Fib exp.), below support eyes 1.5707 (38.2% Fib ret.)
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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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