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Strategy: Flat
GBPUSD is approaching major trend line resistance at 1.6332, a level that has capped the upside over the past year. We will monitor how prices behave at this critical barrier before taking a directional bet, leaving us on the sidelines for the time being.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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