GBPUSD – Intraday Strategy (16 Aug 2013)

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Recommendations: LONG positions above 1.5565 with 1.5630 & 1.5675 as next targets.
Alternative scenario: The downside breakout of 1.5565 will call for a slide to 1.5530/493.
Description: The pair trades above its support 1.5565, stability above this level will build pressure on the 1.5675 levels, losing 1.5565 on hourly closing basis would delay the bullish for retesting 1.5530/493 levels, but downside below 1.5565  is likely to be contained well above the 1.5493/530 levels, however ; to minimize risks , buy after rejection from/above 1.5565 levels.

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