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GBPUSD is facing trend line resistance
Tuesday, October 16, 2012 20:04
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GBPUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend will indicate that the downtrend from 1.6309 has completed at 1.5976 already, then further rise towards 1.6309 previous high could be seen to follow. On the downside, as long as the trend line resistance holds, the rise from 1.5976 would possibly be consolidation of the downtrend from 1.6309, and one more fall to 1.5900 is still possible.
