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GBPUSD: Year-Old Trend Line Resistance in Sight

GBPUSD: Year-Old Trend Line Resistance in Sight

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

GBPUSD is approaching major trend line resistance at 1.6332, a level that has capped the upside over the past year. We will monitor how prices behave at this critical barrier before taking a directional bet, leaving us on the sidelines for the time being.

GBPUSD_Year-Old_Trend_Line_Resistance_in_Sight_body_Picture_5.png, GBPUSD: Year-Old Trend Line Resistance in Sight

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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