Forex: GBP/USD Technical Analysis – Sellers Probe Below 1.59
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- A bearish Dark Cloud Cover candle pattern marked a turn lower, as expected
- Breaking support at 1.5918 (23.6% Fib ret.) exposes the 1.5707 (38.2% Fib ret.)
- Resistance levels are 1.6184 (trend line from Jul’13), 1.6235 (23.6% Fib exp.)
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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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