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Forex pairs in this Article » GBP/USD (Athens)- Karen Jones, Head of Technical Analysis at Commerzbank suggests that “GBP/USD massive acceleration places the 2009-2013 downtrend at 1.6333 in the spotlight.”


“GBP/USD has seen a massive acceleration higher, which has taken out all short term resistances to leave the market now focused on the 2009-2013 downtrend at 1.6333.”

“Despite the directional move seen yesterday we continue to look for this to hold the topside. Support is offered by 1.60 then the 1.5918 accelerated uptrend – while above here the market remains immediately bid. Only below here will allow for a slide back to the 1.5653 3 month uptrend.”
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