June 24, 2016

GBPUSD Multi Year support line

  • GBP/USD Month time frame shown from the Lows made in 1993. 
  • Price touched the support line in 1993, 2001, 2009 and Now in 2016.
  • Breaking this support line can lead to long term weakness for the pair.
  • Pattern also looks like a Multi-Year Head and shoulders pattern. If the Support line holds these scenarios does not come into play.

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