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Bounce or Break. This is The Question?
Mon, Jul 6 2009, 03:38 GMT
by Mohamed I El Shall
4XTechnicales.com
GBPUSD has to answer this question on the next coming hours.
As it is approaching its important support level at 1.6200 while you read this
article. We kept on mentioning this important price level many times on our daily
and weekly review.
We recommend a long position from 1.6200 with a stop loss at
1.6050 and our target will be at 1.6565. For following reasons.
-
1.6200 is a very strong price level since
it had supported the pair of currency and pushed it up several time last month.
-
Bullish divergence on OSMA.
-
The pair had signaled an overbought signs
on stochastic indicator.
Illustrations are on below chart.

Published on
Mon, Jul 6 2009, 03:40 GMT
Archive
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Published On Sun, Jul 26 2009, 22:12 GMT
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Published On Mon, Jul 13 2009, 23:33 GMT
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Published On Mon, Jul 6 2009, 23:45 GMT
- Bounce or Break. This is The Question?
Published On Mon, Jul 6 2009, 03:38 GMT
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