GBPUSD Technicals for July 27th
Prepared by Jamie Saettele
The GBPUSD rally has reached the former 4th wave extreme, which is reinforced by the 200 day SMA and an upward sloping resistance line just above current price. This confluence should prove a strong barrier to bulls.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson 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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