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March 28, 2012

GBP/USD Held at 1.60; A Limited Short-term Bearish Outlook

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The GBP/USD pushed higher over the 3/27 Asian session, but stalled at 1.60 as the European session began. Looking at the 4H chart, the pair looks like it is in a terminal wave, a 5th wave of a 5-wave structure. Also, we see the that this 1.60 area was a previous resistance  that caused a bear... FF News: Technical

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