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GBP/USD Firms into Month End

GBP/USD Firms into Month End

2016-04-28 19:19:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD Firms into Month End

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The most recent noted that “Cable needs to take out 1.4515 to indicate that the bottoming interpretation is correct. Until then, the waters are murky.” GBP/USD has taken out 1.4515, which supports a bullish interpretation based on the head and shoulders bottoming formation. Focus is towards 1.49 (trendline and 200 day average).

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