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GBP/USD Tests 2015 Provide Resistance

GBP/USD Tests 2015 Provide Resistance

2016-02-09 19:41:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD Tests 2015 Provide Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-GBP/USD has been a difficult beast of late. The rate dropped under the 1985-2009 trendline earlier this year and then tested the level as resistance and pulled back sharply (last Friday). In classic Cable trade, the cross again reversed sharply and is now trading around the 2015 lows (1.4565 and 1.4634). In other words, it’s not clear sailing on the upside just yet.

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