GBP/USD Tests Support At 1.4210/00
Jason Sen | Jan 26, 2016 04:23AM ET
GBP/USD testing support at 1.4210/00 but below here risks slide to 1.4155/50. If we continue lower look for 1.4125/20. Further losses retest the 1.4084/79 low which is the most important of the week of course.
Holding first support at 1.4210/00 targets first resistance at 1.4250/60. This could hold a rally in the bear trend but above here targets 1.4285, perhaps as far as 1.4305/10. If we continue higher look for our selling opportunity at 1.4350/55. Shorts need stops above 1.4380. A break higher is a buy signal however and sees 1.4355/50 act as support to target 1.4420/25.
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