Bearish View
Starting with a key level of 1.62531, this line was the previous resistance (Oct.2013) and later turn as a support (Dec. 2013~Feb.2014) of GBP/USD. Next, it started treading water around the psychologically important level of 50% Fibonacci retracement. This pair turns very bearish, once it fell through the 61.8% of Fibonacci retracement with lower highs and lower lows.
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