Strategy: Pending Short
GBPUSD has mounted a recovery along with a broad-based rebound in risky assets, sending the pair back over the 1.55 figure en route to re-test support-turned-resistance at 1.5529. A push above this boundary exposes the lower boundary of a rising channel that had guided the rally since May (now at 1.5731). We will look for the upswing to improve risk/reward parameters for a short position assuming a stop to be activated on a daily close above 1.6004 and an initial target of 1.4781.
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