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GBP/USD Lower On London Session Opening

Reported by on Wednesday, 4 July 2012 (on July 4, 2012)

On Tuesday Pound/Dollar traded within almost 60 pip range. The Cable depreciated from 1.5714 to 1.5656 yesterday, in converse with the positive money flow sentiment at bellow 14%, closing the day at 1.5686. Today the British Pound weakened slightly further, reaching 1.5652. On the 1 hour chart range small angle upward channel has formed, while on the 3 hour chart quotes are moving within wide range. First resistance is yesterday's peak at 1.5714. Break above it should extend the bullish movem...

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