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Great Graphic: Interesting Sterling Price Action
Sterling is having an interesting day. It fell in the face of the US dollar's bounce but has recovered fully. It has not yet traded above yesterday's high (~$1.2510) but it may. It does appear to be tracing out a hammer in Japanese candle stick terms. Demand emerged (support) near the 50% retracement objective of advance off the January 16 dip below $1.20. That retracement was $1.2346 and today's low was one hundredth of a penny above it. Today's low is also just above the downtrend line drawn off the September and December 2016 highs. It was broken in late-January as sterling advanced, and it held (~$1.2325) today ... (full story)
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- Feb 7, 2017 1:37pm Feb 7, 2017 1:37pm
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frx_trader
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- Ghassforex
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- bearbull01
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