Forex: GBP/USD Technical Analysis – A Top in Place Below 1.64?
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- Prices are testing the 1.6406-38 area (trend line from Jul’13, 38.2% Fib exp.)
- A Shooting Star candle hints at weakness; initial channel top support is at 1.6214
- Breaking above 1.6438 initially targets 1.6577 (50% Fib expansion)
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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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