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Monday, September 28, 2009

GBPUSD Analysis – Sep 29, 2009

Posted by Harmain at 8:08 PM

GBPUSD remains in short term downtrend from 1.6467 and the rise from 1.5770 is more likely consolidation of downtrend. Further fall is still possible after consolidation and next target would be at 1.5600 zone. Initial resistance is now at 1.6050, as long as this level holds, downtrend will continue.

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