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GBP/USD – Pay Attention to 1.3121

GBP/USD – Pay Attention to 1.3121

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD – Pay Attention to 1.3121

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“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.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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