GBP/USD Technical Analysis for the Week of July 4, 2011

By ForexMansion.com

 

The GBP/USD pair rose this week, finding support at the crucial 1.59 level. The pair looks like it is going to stay within a few hundred pips range, between 1.59 and 1.61. Until we break out of that range, it might be difficult to take a long-term position. Whichever side we break out of – that is the direction you want to be trading.

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