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Short Term Analysis – October 24, 2007

20071024_gbpusd_1.gifGBPUSD is in up trend, further rise above 2.0652 (July 24 high) to reach the next cycle top on daily chart can be seen in the next several days. Near term support is at the up trend line from 1.9652 to 1.9879, as long as this trend line support holds, up trend will continue. For long term analysis, GBPUSD bottomed at 1.9652 on weekly chart. Further rise towards 2.1000 area to reach the next cycle top is expected.

Please click the following links for more short term and long term forex analysis.

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

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