GBP/USD Enjoying its Dalliance with Long Term Slope Line
Chart Prepared by Jamie Saettele, CMT
-The GBP/USD rally has failed at a long term parallel. The parallel is defined by the 2007-2011 trendline (off of the highs) and extends off of the 2009 high. That line has pinpointed major inflection points for years. Likewise, a move above the level would be seen as significant. Near term, watch for support from the short term trendline (originates at 10/25 low).
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