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Jan 3, 2016 9:23 AM

GBP/USD - Downside acceleration expected Short

British Pound/U.S. DollarFXCM

Description

The decline from 1.5930 could resemble a large ending diagonal, but the first part from 1.5930 to 1.5107 is more likely a leading diagonal and that could explain the downside acceleration we are starting to see. I'm look for a decline to 1.4166 as the next larger downside target.

Comment

The 1.4166 target was tested today. If we close below this support then more downside towards 1.3907 should be seen.
Comments
mehmettt12
big target 1.4166..
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