GBP/USD Classical Technical Report 02.16
GBP/USD: Gains have stalled out just shy of the 200-Day SMA for now and the market looks like it could be in the process of once again rolling over in favor of a bearish resumption. The key level to watch comes in at 1.5645, and a daily close below will confirm outlook and accelerate declines back down towards the 1.5250 area. Back above 1.5830 however would delay and give reason for pause.
--- Written by Joel Kruger, Technical Currency Strategist
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