
GBP/USD: Although the market had been very well bid in recent sessions, the rally looks like it might finally be stalling out in favor of a bearish resumption, after gains stalled just over 1.6200. Look for a daily close back below 1.6150 to confirm and accelerate into the 1.5800 area. Ultimately, only a daily close above 1.6250 delays and gives reason for pause.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com