GBP/USD: Bulls Managed A Weekly Above Psychological 1.3000 Level
Jason Sen | May 22, 2017 04:42AM ET
GBP/USD bulls managed a weekly above the psychological 1.3000 level, but obviously need to beat the 1.3045/47 high last week to build on the gains targeting 1.3055/60 and 1.3085/90 before 11 month trend line resistance at 1.3110/20 and the main challenge for bulls today this week.
Minor support at 1.2990/80 before the best support for today at 1.2930/20. Try longs with stops below 1.2890. A break lower is a short term sell signal and risks a slide to good support at 1.2830/20.
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