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GBP/USD 5th Day Up and a Test of the Resistance Line

GBP/USD 5th Day Up and a Test of the Resistance Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD 5th Day Up and a Test of the Resistance Line

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-GBP/USD rallied for its 5th consecutive day (first time since the September high) and has pressed into the trendline that extends off of the September and October highs. The crash day close at 1.2433 may prove useful as a pivot (a bias level). A close above the channel line would clear the way for strength towards the July low at 1.2791.

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

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