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GBP/USD - Bullish breakout of the key resistance at 1.6260
GBP/USD has broken the key resistance at 1.6260, moving to the upside out of a multi-month horizontal consolidation. However, a strong resistances area stands between 1.6302 and 1.6381 (see also the long-term declining trendline). An hourly support can be found at 1.6258 (intraday low). Another support lies at 1.6134 (25/11/2013 low). In the medium-term, the break to the upside of the multi-month consolidation is positive. However, monitor the test of the strong resistances around 1.6381 (02/01/2013 high), given the deep overbought conditions.
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- Nov 28, 2013 8:28am Nov 28, 2013 8:28am
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khol_hands
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Trader88q
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Trader88q
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