GBPUSD: Break of 1.55 Hints at Deeper Pull-Up
Strategy: Pending Short
GBPUSD recovered after putting in a Harami candlestick pattern above support in the 1.5232-1.5342 area, with prices narrowly taking out resistance at 1.5511 marked by the 23.6% Fibonacci retracement. The breakout hints a move to challenge the 1.5638-62 region is ahead. We will monitor how the pair behaves at this barrier, looking for selling opportunities.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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