Tuesday, July 17, 2012

GBP Breakout? (2012-07-17 GBP analysis)
















Above is the 4-hour chart of GBP/USD (GBP=). The price has just broken out of the recent downwards channel, and if it remains above the upper purple line for a few hours, the breakout will be confirmed. Next resistant is at around 1.578 which is the 50% retracement level.

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