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GBP/USD Short Term Channel Support Reached

GBP/USD Short Term Channel Support Reached

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments noted that “as February gives way to March, GBP/USD is pressing the issue on ‘1.2400ish’. If it breaks then watch for support from the mentioned 1.2278 and/or near the late December support of 1.2200/30.” Cable is trading around 1.2200 so if something positive is going develop then it probably needs to happen now. Regarining 1.2390 (pivot since late November) would be a start.

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

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