GBPUSD: Standing Aside as Prices Push Higher
GBPUSD took out resistance at 1.5638 after putting in a Harami candlestick above key multi-month support in the 1.5232-1.5342 region. The bulls target 1.5769 from here. The 1.5638 level has been recast as near-term support. Positioning does not offer a clear entry signal and the moment and we will stand side until something more attractive presents itself.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.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 firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.