GBP/USD Consolidates above Long Term Channel Support
Chart Prepared by Jamie Saettele, CMT
-“Obviously, trading risk is higher than normal given the UK referendum on staying/leaving the EU.” Understatement. GBP/USD realized its largest 1 day decline ever last Friday. Technically, multiyear channel support is just under the market and could inspire a bounce into former support in the 1.3800-1.4000 area.
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