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Thursday, September 23, 2010

GBPUSD update

Just wanted to update everyone on the GBPUSD fakey setup from the previous post I made. The setup did come off to the downside as I thought it would and ran into support near 1.5500. Price has since bounced back higher back to 1.5700 resistance. It is becoming apparent that price is entering into a trading range in the GBPUSD. It will be interesting to see what happens as this week closes out and the next week begins.

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