GBP/USD Rallies from Parallel Support
Chart Prepared by Jamie Saettele, CMT
-The most recent update noted that “the rebound 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).” GBP/USD headed lower and begins December at support from a parallel. A bigger rebound is possible at this level but would watch for resistance near 1.5170 (horizontal).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.