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The pattern was broken through several hours earlier when the pair breached the neck-line at 10.8762 that represented a formidable resistance, especially given that it was propped up by the 200-hour SMA sitting at 10.8550. However, a rally that usually follows a breakout from double bottom pattern appeared to be short-lived. Recently the currency couple dived below the neck-line and may extend losses in future. This is also supported by market players who are bearish in 60% of cases.
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