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GBP/USD November High is in the Way for Now

GBP/USD November High is in the Way for Now

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The 20 day continues to hold and GBP/USD has broken through early month resistance just above 1.2400. This level was actually support today (1/24), which is viewed as a positive but the key level from a bullish perspective remains the 1/19 low at 1.2252.” High today was the November high (to the tick) so respect additional downside but Cable is constructive while above 1.2419 (the re-test low).

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