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Forex: GBP/USD Technical Analysis – Channel Support Broken

Ilya Spivak


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Talking Points


  • Prices fell after showing a Shooting Star candle, snapping rising channel support
  • Sellers now aim to challenge 1.6213 (Flag resistance-turned-support from Oct)
  • Back above the channel (1.6375) eyes the 38.2% Fib expansion at 1.6406


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dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis – Channel Support Broken

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


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