Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD has traded into the November 2009 high. The next possible resistance is 1.6985 then the 2009 high at 1.7042. Is GBP leading or lagging (USD is not at lows against other major currencies).
-Upside momentum is (still) pathetic (RSI hasn’t been above 70 since October so this doesn’t even feel like a bull) but respect upside as long as the rate is above 1.6762.
LEVELS: 1.6785 1.6800 1.6841 | 1.6900 1.6986 1.7042
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- Utility Industry
- Basic Materials Industry