The GBPUSD rally has exceeded the former 4th wave extreme of 15530 and is approaching the October 2009 low of 15705. The pair continues to press against an upward sloping resistance line and short term momentum (see RSI) is divergent. The GBPUSD looks vulnerable but it is difficult to short without a point of reference to place a stop. It is best to wait for a top to form and then short a bounce.
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