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Forex Technical Analyses

22.07.2010 07:41
Technical Summary for Majors
EUR/USD Further corrects the upleg off 1.2522, 13 July higher low to 1.3026, 20 July high. Market has so far retraced over 50%, reaching 1.2731 low late yesterday. Next target stands at 1.2715, 61.8% and 1.2681, 14 July low, where possible higher low is sought. However, upside regain of 1.2920/30 is needed to return to strength, while loss of 1.2681 risks retest of 1.2522. Res: 1.2838, 1.2869, 1.2924, 1.2966 Sup: 1.2731, 1.2715, 1.2681, 1.2613   GBP/USD Maintains negative near-term
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