Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD closed at its best level in nearly 5 years today. The line that extends off of the 3/31 and 4/10 highs crosses the November 2009 high tomorrow just shy of 1.6900.
-Upside momentum is 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 trendline holds.
LEVELS: 1.6565 1.6660 1.6729 | 1.6822 1.6877 1.6985
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