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Thursday, April 21, 2011

GBP/USD Intraday Technical analysis 2011-04-21

The spot rate approaches the upper limit of its medium-term bullish channel  to 1.6460 suggesting a decline. However a break of these levels would free up significant potential and begin a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6460 with a 1st objective of 1.6570, then 1.6600. A break in 1.6430 would invalidate this scenario.
http://instaforex.com/forex_analysis/27173/?x=OUE
 

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