GBP/USD Technical Analysis of October 23rd, 2012 by MBCFX.com




 GBP/USD Technical Analysis of October 23rd, 2012


The GBP/USD prices formed a “Head and Shoulders” pattern, which signals that the downward may resume if the prices breach down1.5990 level. We advice our clients to wait for such confirmation before initiate any position; the next expected target will be towards the 1.5960-1.594 area.

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