GBP/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having hit a one-month low on October 16, the British Pound seemed to regain strength for a sharp rally versus the U.S. Dollar. The rally was performed within the boundaries of channel up pattern that has been formed since October 16.
At the moment, the pair is vacillating slightly below its three-week high reached a couple of hours ago. Market players are mostly bullish on the pair, with 57.07% of all positions being long. To confirm this view, GBP/USD has to surpass its four-hour resistance at 1.6231 that if overcome will push a three-week high back to the fore.
© Dukascopy Bank SA
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Wed, 23 Oct 2013 06:19:55 GMT

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