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GBP/USD – Tight Consolidation around Crash Day Close

GBP/USD – Tight Consolidation around Crash Day Close

2016-11-17 19:44:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD – Tight Consolidation around Crash Day Close

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Cable has pulled back from last Friday’s high. Big resistance still looms at the July low (1.2791). If GBP/USD is going to make it that level, then former trendline resistance turned support is a candidate to provide support again. That level is near 1.2200 on Friday.

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

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