Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“GBPUSD made a key reversal on 2/17. The pullback occurs after a push above the 2011 high and test of the best level since November 2009.”
-The rate has bounced from trendline support. Watch for resistance from 1.6712 to go the other way but expect support at 1.6560/80 for a trend continuation opportunity. A break of trendline support would open up 1.6495 and the trend turns bearish below 1.6459.
LEVELS: 1.6428 1.6496 1.6565 | 1.6661 1.6713 1.6767
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