Forex: GBP/USD Technical Analysis – Rally Capped Above 1.64
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- Prices are testing resistance in the 1.6430-42 area (Dec 2 high, 23.6% Fib exp.)
- A break higher on a daily closing basis initially exposes 1.6516 (38.2% Fib exp.)
- Near-term supports are at 1.6291 (Dec 6 low), 1.6212 (falling channel 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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