Strategy: Flat
GBPUSD put in a Shooting Star candlestick below horizontal resistance at 1.5709, hinting a pullback is ahead. Initial support lines up at 1.5563. While the setup is compelling from a technical perspective, we see a risk for further US Dollar weakness into the year-end and will opt to stay on the sidelines for now.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak
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