FOREX ANALYSIS: British Pound Targets Key Resistance
GBPUSD – Retail forex traders have sold aggressively into recent British Pound strength versus the US Dollar (ticker: USDOLLAR), and a contrarian view of crowd sentiment leaves us in favor of further GBPUSD gains.
A GBPUSD break above $1.6075 would give us further conviction in our short-term trading bias.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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