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British Pound Trades into November Congestion Zone


akats

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Today’s GBPUSD range was the largest since the 1/13 low and price has reached the November pivots at 15868/88. A drop below 15706 is needed in order to trigger a deeper setback of the incredible run from the January low. Short term support is 15790 and additional strength targets the 200 day average at 15955 and 50% retracement of the decline from the 2011 top at 15989.

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  • 1 month later...

This is really a good news that British pound had grown their reverse rate after some days of down. But unfortunately I can see that right now on 11th of march their rate also drooped down heavenly Because it's rate was started with 1.5820 - but their current rate is 1.5673. I think it's far away from your last list. Hope that British currency should recover their trade. On the other hand it's really good for US treader - as they can gain something better.

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