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October 3, 2012

GBP/USD Testing 1.61 and the Rising Trendline from August

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Breakout vs trendline: After consolidating over a couple of trading sessions, the GBP/USD reached the 1.61 swing projection target noted in a previous update of the cable. As we see in the 1H chart, the GBP/USD broke below a the consolidation pattern during the 10/3 Asian-European session. Note the... FF News: Technical

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