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Forex Trading Technical Analysis (2010/08/12) GBP/USD Drops to Key Support

GBP/USD (a 4-hour chart of which is shown) as of Thursday (8/12/2010) has continued this week’s precipitous drop from 1.6000 resistance and has approached key support in the 1.5550 price region once again, establishing close to a two-week low. For more GBP/USD technical analysis, please click here.

James Chen, CTA, CMT