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GBP/USD Carves a Bearish Outside Day

GBP/USD Carves a Bearish Outside Day

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-After breaking through the early year high at 1.2432, GBP/USD retested the level as support twice. The seemingly positive action was dealt a blow today with a large bearish outside day. 1.2432 should still be watched for support but the reversal has me wondering if Cable is headed into a broader range.

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