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GBP/USD Channel Confluence is Just above 2009 High at 1.7042

By , Sr. Technical Strategist
06 May 2014 21:17 GMT

Daily

GBP/USD Channel Confluence is Just above 2009 High at 1.7042

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“The next possible resistance is 1.6985 then the 2009 high at 1.7042.” A channel confluence is not far above 1.7042. Look into this area over the balance of the week with the understanding that the market could respond up there.

LEVELS: 1.6760 1.6800 1.6850 | 1.7017 1.7042 1.7100

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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06 May 2014 21:17 GMT