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GBP/USD Key Reversal at Top of Range

GBP/USD Key Reversal at Top of Range

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-GBP/USD price action since the October crash low has formed a triangle. Triangles can resolve in either direction but are typically (not always) continuation patterns. In this case, that would be lower. As such, I’m interested to see how Cable trades following today’s key reversal at the top of the range. The upper triangle barrier is near 1.2620 and a move through there would argue for bullish resolution.

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