Forex: GBP/USD Technical Analysis – Turning Lower as Expected
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- Prices are turning lower as expected after showing a Bearish Engulfing candle setup
- A close below 1.6475 (23.6% Fib ret.) eyes 1.6356-74 (channel floor, 38.2% Fib exp.)
- Resistance is at 1.6667 (Dec 24 high), 1.6696 (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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