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GBP/USD Bigger Resistance Still Near 1.50

GBP/USD Bigger Resistance Still Near 1.50

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Bigger Resistance Still Near 1.50

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The near term GBP/USD rally has failed but the rate is trading off of a long term support (see here). A push through the recent high of 1.4515 is needed in order to open up a run towards longer term downtrend resistance (and the 200 day average) close to 1.50. Until then, GBP/USD is in ‘trading purgatory.

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.

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