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Long Term Forex Analysis
GBPUSD is forming a cycle bottom at 1.9647
Sat, Jul 12 2008, 02:18 GMT
by Franco Shao
GBPUSD is forming a cycle bottom at 1.9647 on daily chart. Further rise to 2.0200 to reach next cycle top is still possible next week, and a break of 2.0006 previous high is needed to confirm such case. Initial support is at 1.9647, only fall below this level will turn price back to 1.9500 level.
For long term analysis, the pair formed a long term cycle bottom at 1.9337 (Jan 22 low). Rebound to 2.0500 area to reach the next cycle top on weekly chart is in favor.
Published on Sat, Jul 12 2008, 02:25 GMT
Archive
- USDCAD is in consolidation to up trend
Published On Sat, Sep 6 2008, 02:50 GMT - EURUSD is test the support of the up trend line
Published On Wed, Sep 3 2008, 02:10 GMT - USDCHF traded in range between 1.0842 and 1.1084
Published On Sat, Aug 30 2008, 00:58 GMT - GBPUSD's down trend remains
Published On Wed, Aug 27 2008, 01:40 GMT - USDCAD broke below 1.0543 key support
Published On Sun, Aug 24 2008, 02:05 GMT
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
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