GBPUSD: Remain Short as Prices Near Target
I initially sold GBPUSD at 1.5765. Prices have reversed lower once again after re-testing support-turned-resistance at the bottom of a previously broken falling channel established from the swing high in November 2009. I will remain short, continuing to target the 03/01 wick low at 1.4781. As before, a stop-loss will be activated on a daily close above 1.5533.
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