GBP/USD Stays Above A Upward Trend Line
Franco Shao | Dec 01, 2013 09:30PM ET
GBP/USD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5854 and the rise extends to as high as 1.6442. As long as the trend line support holds the uptrend could be expected to continue, and the next target would be at 1.6500 area. On the downside, a clear break below the trend line support will suggest that the uptrend from 1.5854 has completed, then the following downward movement could bring price back to 1.6000 zone.
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