Daily Forex Analysis ? May 10, 2011

GBPUSD Analysis. GBPUSD remains in downtrend from 1.6745, the bounce from 1.6270 is treated as consolidation of downtrend. Range trading between 1.6270 and 1.6463 would likely be seen in a couple of days. As long as 1.6463 resistance holds, downtrend could be expected to resume, and another fall towards 1.6150-1.6200 is still possible. However, a [...]

Source: http://blog.forexcycle.com/6335/daily-forex-analysis-may-10-2011/

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