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GBP/USD Diagonal Line is Near 1.7100

GBP/USD Diagonal Line is Near 1.7100

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Diagonal Line is Near 1.7100

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-After breaking the trendline that had held since November, GBPUSD ripped higher to find fresh highs. The 2009 high (and 2005 low) rests at 1.7042. The line that extends off of the February and May highs is now of interest near 1.7100.

LEVELS: 1.6844 1.6881 1.6920 | 1.6985 1.7042 1.7100

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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