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GBP/USD update

Posted on July 07, 2008

The pair is attempting to break the first support level proposed for today, although the pair has already rallied over 150 pips today.Looking at smaller charts, the pair seems quite over sold, so there are good chances for a rebound to the upside at this level, targetting the zone around 1.9690/1.9705. Look at the following hourly chart: If the pair breaks under 1.9650, the vision is denied and probably continue to the downside ...

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