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Technical Analysis
Forex Technical Analysis EUR/USD by IFC Markets
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[QUOTE="Akriti, post: 50333, member: 26149"] [B]Forex Technical Analysis GBP/USD 2013-08-16[/B] Upside bias drove the currency pair yesterday to 161.8% extension of 1.5432 to 1.5101, at 1.5644. At the moment prices are consolidating just below that resistance but are likely to breach that level and rise as high as the upper boundary of the 1.5751/1.4832 longer term wide range. The only factor that concerns us is that the Williams’ percent range is at its top although not confirmed by Oscillator, in addition the GBPUSD rose above 200 SMA. Thus in our view it has serious chances to test the top of the range at 1.5751. [IMG]http://www.ifcmarkets.com/uploads/images/tanalysis/042f683816f3a9b8c056231fe0c4d6a0681cd3f7.png[/IMG] [/QUOTE]
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