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GBP/USD Up Day at the Channel Boundary

GBP/USD Up Day at the Channel Boundary

2017-03-09 20:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD Up Day at the Channel Boundary

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Cable is trading around 1.2200 so if something positive is going develop then it probably needs to happen now. Regaining 1.2390 (pivot since late November) would be a start.” 1.2200 hasn’t done much but GBP/USD is trading at the lower end of a bearish channel. Prices can ride the channel line or plummet below but keep an eye out down here for short term constructive behavior.

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