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GBPUSD Weekly Analysis - December 7, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 07 December 2014 11:47 UTC
GBPUSD's downward movement from 1.7190 extended to as low as 1.5569. Near term resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.5000 area. Key resistance is at 1.5825, only break above this level could signal completion of the downtrend.

gbpusd chart

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