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GBP/USD 1.4820 May Provide Support

GBP/USD 1.4820 May Provide Support

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Since the 3/18 reversal, GBPUSD has traded sideways to down in a choppy manner. In fact, an intraday pattern reveals a possible bullish wedge since 3/20 and measured objective of 1.5240. Daily and weekly divergence with momentum at price lows indicate the possibility for a bullish outcome.

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