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Forex pairs in this Article » GBP/USD
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Talking Points

  • We sold GBP/USD at 1.6172after prices fell as expectedhaving formed a Shooting Star candle
  • The pair satisfied our first target, exposing the 1.60 figure and 1.5941 (38.2% Fib)
  • Below support eyes 1.5843 (50% Fib); major resistance is at 1.6259 (Oct 1 high)
Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-usd_body_Picture_5.png, Forex: GBP/USD Technical Analysis – Sellers Held at 1.60 MarkDaily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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