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British Pound Technical Outlook British Pound Technical Outlook
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Old 08-19-2008, 11:00 AM
DailyFx's Avatar
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Join Date: Jan 2007
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Default British Pound Technical Outlook
Cable continues to consolidate just above the 1.85 figure. Measured support from the 100% extension of 2.1160-1.9337-2.0396 at 1.8573 and the 61.8% of 1.7047-2.1160 at 1.8618 should lead to a bounce from near current price.



Also, extending a line parallel to the line drawn off of the November 2007 and July 2008 highs from the January 2008 low provides potential channel support.
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