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Technicals

GBPUSD might be forming a short term cycle bottom

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21 July 2008 @ 10:28 pm EST
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GBPUSD might be forming a short term cycle bottom at 1.9906 on 4-hour chart. Sideways consolidation in a range between 1.9906 and 2.0158 could be seen before breaking above 2.0158 level. One more rise towards 2.0391 (Mar 14 high) is still possible after consolidation.

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