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Feb 12, 2012 09:33PM GMT
     
 
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Daily Analysis British Pound

By   |  Forex Technical Analysis  |  Jan 06, 2009 12:00AM GMT
 
 

GBP/USD opened up at $1.4709 took a hit down to $1.4658 early on. Range trading caused the pair to trade at these levels until about 4:30 GMT. A steep correction due to selling pressure from central banks took GBP/USD down to $1.4587 for the next hour or so. For the next two hours up until about 8:15 GMT, the pair slipped into a choppy range of $1.4564 to $1.4618. The pair has now steadily climbed to an intraday high of $1.4718 at writing time.

Support:1.4550,1.4500,1.4450 
Resistance:1.4700,1.4650,1.4600 

 

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