Daily Forex Analysis ? March 16, 2011

GBPUSD Analysis. GBPUSD consolidated in a range between 1.5962 and 1.6343 for several weeks. As long as 1.5962 key support holds, we’d expect uptrend to resume, and another rise towards 1.7000 is still possible. However, a breakdown below 1.5962 will indicate that the uptrend from 1.5344 (Dec 28, 2010 low) had completed at 1.6343 already, [...]

Source: http://blog.forexcycle.com/6060/daily-forex-analysis-march-16-2011/

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