GBP/USD Waits Resolution to Range
Chart Prepared by Jamie Saettele, CMT
-There is no change to recent GBP/USD comments other than noting that important short term support (mid-1.40s) has held and that near term resistance is probably 1.44 (internal trendline). “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.”
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