GBP/USD Trades Between 20 and 200 Day Averages
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. Watch for resistance from former support lines in the 1.5500-1.5550 zone.
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