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GBP/USD Forecast December 28, 2011, Technical Analysis

Under forex posted 1088 days ago.

By FX Empire.com

GBP/USD rose on Tuesday as traders sold off the Dollar overall. The move may have been somewhat exaggerated in low volume though. Also, the 1.57 level held again, and this suggests that we are simply going to continue to consolidate in the 1.55 to 1.57 range for the time being. This makes sense as the markets are usually quiet in this part of the year with the lack of interest. The pair is towards the top of the range, so selling isn’t a bad idea for the short term.

GBP/USD Forecast December 28, 2011, Technical Analysis

GBP/USD Forecast December 28, 2011, Technical Analysis

Originally posted here

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