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February 16, 2012

GBP/USD Breaks Above Corrective Channel

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The GBP/USD has been in a corrective decline from 1.5927 trading in a counter-trend channel see in the 4H chart. After stalling at 38.2% retracement near 1.5660, the market rallied sharply and in the 2/16 US session, following some positive US data. The GBP/USD is now seen breaking above this... FF News: Technical

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