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February 24th, 2010, 4:15 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

GBPUSD drops sharply from 1.5575 and reaches as low as 1.5393 level. Now the fall could possibly be resumption of downtrend from 1.6456. Deeper decline is expected to test 1.5350 support later today, a breakdown below this level will confirm that the downward movement has resumed, then next target would be at 1.5250 area.

gbpusd


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forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

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