GBP/USD in Position to Move Big; Direction Unclear
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-GBPUSD continues to trade above long term support (see here) but price needs to take out 1.4515 in order to eliminate the wet blanket behavior. A push through the noted level would complete a 2+ month head and shoulders bottom and target longer term downtrend resistance near 1.50. Until then, downside continuation into the low 1.30s cannot be dismissed.
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