GBPUSD: Continues To Retain Upside Pressure Short Term

Discussion in 'Stock picks and trading strategies' started by FXTechstrategy, May 17, 2017.

  1. GBPUSD: The pair continues to retain its short term uptrend but with caution. Support lies at the 1.2900 level where a break will turn attention to the 1.2850 level. Further down, support lies at the 1.2800 level. Below here will set the stage for more weakness towards the 1.2750 level. Conversely, resistance stands at the 1.3000 levels with a turn above here allowing more strength to build up towards the 1.3050 level. Further out, resistance resides at the 1.3100 level followed by the 1.3100 level. On the whole, GBPUSD continues to face upside threats.

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