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GBP/USD Awaits Triangle Breakout; Has Bullish Bias
Triangle, bullish bias: Since breaking above a resistance pivot of 1.5260, the GBP/USD has been forming a triangle consolidation as seen in the 4H chart. This consolidation is developing in the middle of a nascent bullish trend since the market found support at the March and 2013-low so far of 1.4830. Since then it has been trading in a rising channel, broke above a falling trendline that has held 2013 price action bearish until now. The moving averages are turning bullish as well, in that the smaller moving averages are oriented higher than the larger-period ones. Still this is considered a young trend compared the ... (full story)
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- Apr 11, 2013 8:30am Apr 11, 2013 8:30am
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Forexgain
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Maso
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Rantaro
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