GBP/USD Remains Range Bound Despite Dip Below Trendline
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The January 2nd outside day reversal (first trading day of the year) looms large as does a weekly key reversal the week that ended January 3rd and a possible head and shoulders top.
-Price is below the line that extends off of the July and November lows but today’s action does not exactly inspire a breakdown call. 1.6440/50 is still resistance.
LEVELS: 1.6216 1.6260 1.6337 | 1.6410 1.6449 1.6516
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