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GBP/USD Drops for 8th Consecutive Day

GBP/USD Drops for 8th Consecutive Day

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Drops for 8th Consecutive Day

Chart Prepared by Jamie Saettele, CMT

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

-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.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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