British Pound Former Channel Support Acting as Resistance
Prepared by Jamie Saettele, CMT
The GBPUSD has rallied over 400 pips off of its low made last Thursday but stalled just shy of the late September high at 15715. Former channel support is currently acting as resistance. That said, the rally from the low (15271) is impulsive (5 waves) and weakness would present a bullish opportunity. 15500/25 is support.
Trend Strength (M,W,D) – (1), (1), 0
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