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GBPUSD Weekly Analysis - April 19, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 19 April 2015 08:49 UTC
GBPUSD remains in downtrend from 1.7190 (Jul 15, 2014 high), the rise from 1.4565 is likely consolidation of the downtrend. Resistance is located at the top of the price channel on daily chart, as long as the channel resistance holds, the downtrend could be expected to resume, and next target would be at 1.4000 area. Only a clear break above the channel resistance could signal completion of the downtrend.

gbpusd chart

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