Forex: GBP/USD Technical Analysis – 1.64 Mark Challenged Anew

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Talking Points

  • Prices fell after showing a Shooting Star candle, snapping rising channel support
  • The next layer of support lines up at 1.6217 (Flag resistance-turned-support from Oct)
  • Above 1.6406 (channel bottom, 38.2% Fib) eyes the 50% Fib expansion at 1.6577

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dailyclassics_gbp-usd_body_Picture_9.png, Forex: GBP/USD Technical Analysis – 1.64 Mark Challenged Anew

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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