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British Pound Reaches 15820 Resistance
Written by article default Friday, 24 September 2010 13:05
Daily Bars
Since the August high, the GBPUSD is probably in a multi month B wave (what’s more…a b of c within a triangle possibly). I’ve laid out what I think is going on with the GBPUSD, which is a triangle from the 2009 low. The implications are bullish over the next few months, with triangle wave c working towards 16500 before a reversal and multi month decline in triangle wave d. Near term, former support from 15820 is resistance.
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