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The price has returned to borders of the flat

05 August 2016, GBP/USD

Four-hours chart of GBPUSD. As we expected, the pair collapsed after bulls had failed to develop their success and has stuck within the narrow flat. However, so far local levels of support are held by buyers, so there are chances of resumption of the upward movement. The main option is continuation of consolidation around (2/8). The alternative option is a continued decline; here the important level is 1.3060. Its breakthrough can bring update of the local Low in the middle run

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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