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GBP/USD Trendline and Former Low Interest Next Week

GBP/USD Trendline and Former Low Interest Next Week

Jamie Saettele, CMT, Sr. Technical Strategist


GBP/USD Trendline and Former Low Interest Next Week

Chart Prepared by Jamie Saettele, CMT

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

-GBP/USD re-tested old support (slope line) several times in November before resuming lower. The low on 12/2 was in line with a downtrend channel support line. Resistance from that channel is near recent horizontal support at 1.5240 over the next several days.

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.