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GBP/USD Bounces off Support, Trading a Sideways Market
Stocks, Unit trusts, Wealth Management and Forex markets
06-08-2012, 11:12 PM
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The one
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Join Date: May 2000
Location: UK
Posts: 97,450
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GBP/USD Bounces off Support, Trading a Sideways Market
The GBP/USD slid after Friday's (8/3) sharp rally, which came after better-than-expected US NFP data. The market then found support heading into the 8/6 US session at a rising trendline connecting last week's lows, around 1.5550. Also note that the 1H RSI reading mostly held above 40 after tagging 70 
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