GBP/USD: Upswing Stalls at Channel Resistance
Strategy: Pending Short
GBPUSD is testing resistance at the top of a downward sloping channel established from Sep-Nov 2009 (now at 1.5231). A break above this boundary exposes major resistance levels at 1.5529 and 1.5797. We continue to see the trend as broadly bearish and will look for a reversal signal to offer an attractive selling opportunity.
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