GBP/USD Minor Resistance at 1.2990
Jason Sen | Sep 26, 2016 01:35AM ET
GBP/USD minor resistance at 1.2990/95 then stronger resistance at 1.3035/40. We should struggle here but a break higher perhaps later in the day is not out of the question & targets quite strong resistance at 1.3080/85. If we continue higher this week look for a selling opportunity at 1.3110/20 with stops above 1.3150.
Failure to beat minor resistance at 1.2990/95 targets 1.2950/40 then last week's low & important trend line support at 1.2930/1.2912. A break lower is a sell signal & tests August lows at 1.2868/63. A break below 1.2850 retests the multi year low at 1.2796.
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