GBP/USD Outside Day Crosses 20 SMA; Trendline is Key
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD reversed on Thursday at the line that extends off of the November and February lows. A break of this line is needed in order to more confidently signal that a top is in place.
-The reaction at 1.6902 bodes well for the downside near term. The rate is trading at estimated support of 1.6789. A break would go a long way in suggesting that mid-1.6600s is the next stop.
LEVELS: 1.6683 1.6717 1.6753 | 1.6833 1.6871 1.6898
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