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Technical Analysis
GBP/USD Daily Technical Analysis
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[QUOTE="michael smith, post: 60785, member: 30279"] [CENTER][B]01.01.14[/B] [IMG]http://mediaserver.fxstreet.com/Reports/86cd0b54-c06a-4d14-9fff-626d3da6528e/gbpusdh4_20140401102815.png[/IMG][/CENTER] GBP/USD is still trying to break through the 1.6685 resistance, which is 61.8% Fib retracement of February to March selloff between 1.6823-1.6467. In case if the pair breaks through this level, then the pair could try to reach March 12 high at 1.6718. However, the immediate support lies at 1.6644 level which marks the convergence of 200 4H-MA and Fib 50%, with a break here in order to open up the important support of 55 DMA at around 1.6570. [/QUOTE]
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