Short Term Analysis

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GBPUSD rebounds from 1.9363 level

Thu, May 15 2008, 02:09 GMT
by Franco Shao

ForexCycle.com


Being contained by 1.9337 (Jan 22 low) support, GBPUSD rebounds from 1.9363 level. Sideways consolidation in a range between 1.9363 and 1.9633 could be seen before breaking below 1.9337 level. Initial resistance is at 1.9633, a break of this level will signal reversal to the down trend.


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