GBPUSD: Prices Challenge 1.60 Figure
GBPUSD is probing above resistance in the 1.5982-1.5991 area marked by the 50% Fibonacci expansion and the February 29 high, with a break above that exposing the 61.8% Fib level at 1.6071. Positioning does not offer an actionable entry opportunity until a clear breakout is confirmed and we will remain on the sidelines for now.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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