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24.01.201110:37 Forex Analysis & Reviews: GBP/USD Intraday Technical analysis

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 24.01.2011 analysis
 

The spot rate is currently testing the upper limit of its medium-term bearish channel to 1.6020. A break of these levels would free up significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.6020 with a 1st objective of 1.6090, then 1.6120. A break in 1.5990 would invalidate this scenario.
 

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