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November 20, 2012

EUR/GBP Coiling in a Rounded Bottom attempt

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Coiling, breakout: The 1H chart shows EUR/GBP in a triangle. The RSI whipped from below 30 to almost 70 before falling back to between 40 and 60. The RSI reading here reflects consolidation momentum in this time-frame. Price also shows a type of consolidation, specifically a congestion aka, triangle... FF News: Technical

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