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GBP/USD Preparing for Next Bull Leg

GBP/USD Preparing for Next Bull Leg

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-No change to Cable, which has flat-lined since the breakout. A minor reaction following a breakout indicates a strong market. Additional sideways trade can’t be dismissed but realize that the reaction low after the breakout is 1.2755. That low represents a re-test of the December high (former resistance providing support…which is bullish).

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