British Pound / US Dollar 07-01
The GBPUSD is approaching parallel channel resistance in what may be a larger 4th wave rally. The line is at 15232 today and decreases about 9 pips per day. I am expecting a top near the line. Trading through the resistance line would expose 15530.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosses on Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to email@example.com.
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