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Technicals

GBP/USD Elliott Wave daily analysis - July 23

23 Jul, 2008 @ 11:02 am EST
Dimo Dimov
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The chart shows the movement started from 2.0146. I think that it is a flat correction and could be already over. In such a case one should expect a new rise from here for a move above 2.0146. A key resistance is 2.0074. A key support is 1.9906

Trading strategy: 10:56 EST; 15:56 GMT

Long position from 1.9995, stop loss 1.9905, target - open

Confidence level - medium

Trading strategy: 10:28 EST; 15:28 GMT

Buy at market (1.9995), stop loss 1.9905, target - open

Confidence level - medium

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