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GBP/USD: The lateral trade continues
21-07-2014 09:42
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ShareCast technical analysts have pointed out that the graph for the cable shows a clear lateral movement since the beginning of July in a perfect channel with a slight descent.
They also noted that the crest of the previous bullish movement is still acting as a zone of support.
"As long as there is no clear perforation of the zone of support at 1.7050, we can't rule out that the cable could restructure to the upside at any moment towards the resistance at this year's high of 1.7191," they said.
JR
They also noted that the crest of the previous bullish movement is still acting as a zone of support.
"As long as there is no clear perforation of the zone of support at 1.7050, we can't rule out that the cable could restructure to the upside at any moment towards the resistance at this year's high of 1.7191," they said.
JR
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