GBP/USD Little Changed after Intraday Volatility
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: No change other than noting that price is nearing the trendline that extends off of the July and August lows. “Remember, the rally would consist of 2 equal legs from the July low at 1.5722, which is also the close of the high day in June. Of note as well is last week’s key reversal at the 52 week average.”
FOREX Trading Strategy: Flat
LEVELS: 1.5422 1.5427 1.5481 1.5552 1.5611 1.5655
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.