Forex Trading Library

GBPUSD 2016-08-04

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Market so far holding trades inside the Triangle Formation where resistance at 1.3400-10 and support at 1.3160

market may hold trades inside this formation while today BOE meeting may give the market the power to break one of those resistance/support

above 1.3410 market will face several resistance levels at (1.3450-80) & 1.3535, while above 1.3535 market may initiate uptrend wave that may target 1.3830 and 1.3930

below 1.3160 market may head for farther drop where another support at 1.3050 before continue drop toward 1.2900 zone

  Support Resistence
Level 1 1.3280 1.3400-10
Level 2 1.3160 1.3450-80
Level 3 1.3050 1.3535
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