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Monday, October 26, 2009

GBPUSD Analysis – Oct 27, 2009

Posted by Harmain at 7:31 PM

After a sharp drop from 1.6692, GBPUSD trades in a narrow range above 1.6251, suggesting a minor consolidation is underway. Range trading between 1.6251 and 1.6450 would more likely be seen later today. However, deeper decline is still possible after consolidation and a break below 1.6251 level will signal another fall towards 1.6000 zone.

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