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GBP/USD - Breaking Support at 1.5330

GBP/USD has broken hourly support at 1.5330 (08/07/2015 low). Hourly resistance is given at 1.5930 (18/06/2015 high). We now target 505 Fibonacci retracement at 1.5248.

In the longer term, the technical structure looks like a recovery bottom whose maximum upside potential is given by the strong resistance at 1.6189 (Fibo 61% entrancement).

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