British Pound Channel at 15775 this Week
Prepared by Jamie Saettele, CMT
End of year weakness in GBPUSD has quickly given way to beginning of year strength as price is over 300 pips from last week’s low. The channel that defines the decline from the April high intersects recent pivot highs just under 15800 this week. Exceeding that level would shift focus to 15875 (former support). Pattern is constructive above 15465 and 15570-15600 is support.
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