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Sideways move continues

Sideways move continues | 17 December 2013

17 December 2013, GBP/USD

Cable continues in a sideways consolidation, in the middle of a strong up-trend. It has fallen within its range to the just below the 1.62975 lows but has now paused to consolidate. It will probably eventually bounce from the current level as the dominant up-trend resumes. The next target would be the range highs at 1.6440, however, for a move to evolve up to there would require a stronger bullish reversal and a move above 1.63425.
Sideways move continues
Mark Satcher
Analyst of «FreshForex» company
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