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Chart of the day聽GBPUSD

12-16-2014

Currently sitting on a double top of 1.5767 and starting to test the fib zones around 1.5705. If this is breached we should see a gradual downtrend formation from 1.5705 down to 1.5542 – I’ve been also checking out the True Strength Index (TSI) and seems to be helping me find a solid entry point on larger time frames for a day or two positioning.

Though.. with the current support of 1.5720-1.5760 we should start seeing some strong movement this evening (I’m in Canada) which should trigger a few stops on these fib zones.

Entry: 1.5710
Take Profit: 1.5540
Stop Loss:聽1.5765

GBPUSD cotd For more updates on the calls we make. Follow us @ZeroValueInc聽on twitter.

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