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GBPUSD Weekly Analysis - July 20, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 20 July 2014 03:57 UTC
GBPUSD stays above a upward trend line on daily chart, and remains in uptrend from 1.4813 (Jul 9, 2013 low), the fall from 1.7190 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.7500 area. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.7190 already, then the following downward movement could bring price to 1.5500 area.

gbpusd chart

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