GBP/USD Bigger Resistance Still Near 1.50
Chart Prepared by Jamie Saettele, CMT
-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.
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