GBP/USD Underside of Trendline Provides Resistance
Chart Prepared by Jamie Saettele, CMT
-The most recent update noted that “a break under 1.5200 (parallel support) would suggest that the next leg lower (towards the April low) is underway.” The rebound this week is viewed within the context of the breakdown. If GBP/USD is headed lower, then it probably heads lower now (underside of recent support line).
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