GBP/USD – Pay Attention to 1.3121
Chart Prepared by Jamie Saettele, CMT
-“The gap to open trading post-Brexit is thus far of the breakaway variety. The current level (slope line near 1.2800) could inspire a ‘squeeze’ as part of consolidation before another leg lower.” 1.2800 is still the low. If GBP/USD is going to work higher in the coming weeks, then the top side of recent trendline resistance probably needs to hold as support. That line is near 1.3121 (low the Monday after Brexit) over the next few days.
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