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Technical Analysis Reports

Forex Center > News > Technical Analysis Reports

GBPUSD might be forming a short term cycle top

19 Nov, 2008 @ 09:10 pm ET

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GBPUSD might be forming a short term cycle top at 1.5249 level on 4-hour chart and the fall from 1.5249 could possibly be resumption of down trend. Key support is now located at 1.4900, a break below this level will confirm the cycle top, and the following decline could bring price towards 1.4000 zone or even lower.