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2010-03-05

Forex Trading: GBPUSD 100 Hour MA, Fibo Retracement Providing Support

gregmike-00738

The 100 hour MA comes in at the 1.5015. That level and the 1.5000 level is support for the GBPUSD and providing support for the GBPUSD.  A move above the 1.5053 then 1.5066 level will be needed to spur on additional buying interest. A break below 1.5000 level should trigger increased selling interest.  The stock market open and reaction will be the next market moving event as the market reaction to the Unemployment starts to die down without a major move or breakout.

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