Forex: GBP/USD Technical Analysis – Resistance Below 1.62 at Risk
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- Prices are testing support-turned-resistance at 1.6131; above that eyes 1.6259 (Oct 1 high)
- Near-term support is at 1.5899 (23.6% Fibonacci expansion)
- A break downward exposes the 1.5675-1.5720 area (38.2% Fib, mid-June top)
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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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