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GBPUSD Weekly Analysis - March 9, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 09 March 2014 07:36 UTC
GBPUSD stays in a upward price channel on daily chart, and remains in uptrend from 1.4813 (Jul 9, 2013 low), the fall from 1.6822 could be treated as consolidation of the uptrend. Key support is located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to resume, and next target would be at 1.7000 area. Only a clear break below the channel support could signal completion of the uptrend.

gbpusd chart

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