GBPUSD: Prices Challenge Channel Top Resistance
GBPUSD is testing resistance at the top of a downward sloping channel established from Sep-Nov 2009 (now at 1.5241). A break above this boundary exposes major resistance levels at 1.5529 and 1.5797. I continue to see the trend as broadly bearish and will look for the current upswing to yield an attractive selling opportunity down the road.
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