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FOREX ANALYSIS: British Pound Targets Key Resistance

FOREX ANALYSIS: British Pound Targets Key Resistance

2012-10-25 15:10:00
David Rodriguez, Head of Product
Share:
ssi_gbp-usd_body_Picture_9.png, FOREX ANALYSIS: British Pound Targets Key Resistance

GBPUSD – Retail forex traders have sold aggressively into recent British Pound strength versus the US Dollar (ticker: USDOLLAR), and a contrarian view of crowd sentiment leaves us in favor of further GBPUSD gains.

A GBPUSD break above $1.6075 would give us further conviction in our short-term trading bias.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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