GBP/USD Drops for 8th Consecutive Day
Chart Prepared by Jamie Saettele, CMT
-After breaking above the line that extends off of the 2014 and 2015 highs, GBPUSD has reversed sharply. The move completes a head and shoulders top that’s been underway since May. The implications are bearish with initial support probably near 1.5090.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.