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Forex: GBP/USD Technical Analysis – Aiming Below 1.60 Figure

Ilya Spivak


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Talking Points


  • A bearish Dark Cloud Cover candle pattern marked a turn lower, as expected
  • Breaking trend line support seems to confirm a double top, exposing 1.5918 (23.6% Fib ret.)
  • Reversing back above the trend line (1.6084) targets 1.6235 (23.6% Fib expansion)


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dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – Aiming Below 1.60 Figure

Daily Chart - Created Using FXCM Marketscope 2.0




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


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