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 GBP/USD Intraday Technical analysis

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PostSubject: GBP/USD Intraday Technical analysis    Fri Jun 24, 2011 12:40 pm

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GBP/USD Intraday Technical analysis

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The spot rate is currently testing the intermediate resistance of its
medium term bearish channel to 1.6040 suggesting a decline. However a
break of these levels would allow it to reach the upper limit of its
channel to 1.6200.
According to previous events, the market indicates a bullish
opportunity as soon as the spot rate will have broken its resistance in
1.6040 with a 1st objective of 1.6170, then 1.6200. A break in 1.6010
would invalidate this scenario

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