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GBP/USD is breaking out on the dailies to the downside

March 9th, 2009 Mark Gavalda Leave a comment Go to comments

If we keep current levels until the end of the day (or go even lower), than we’ll have an interesting situation on the daily charts: bot of my two trendlines (one horizontal at 1.3984 (which is ~last week’s low) and the lower TL of a descending wedge will be broken for good. That means the next stop is 1.35, January lows! I wouldn’t dare go long today… ;)

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