GBP/USD
May 21st, 2008
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GBP/USD is stil consolidating within its well defined descending range. Resistance is @ 1.9720 and 1.9780. If the latter level is broken we can see another test of the key 2.0000 level. Support is @ 1.9475 and break below will lead to a test of the stronger 1.5340 level. If this pivotal support gives way a much stronger decline of the cable could be expected.
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