GBP/USD Successful Re-Test of Former Resistance Line
by
, 05-22-2016 at 12:08 PM (1128 Views)
GBP/USD
Weekly
-FXTW has maintained that “GBP/USD trade remains constructive for a run at trendline resistance (about 1.4900) but watch for support at the internal trendline that crosses through inflection points since September. FXTW would like to see support register at that line in order to maintain a constructive view. Remember, there is a 96 month (8 year) cycle low count.” Support registered near (a few ticks above) the mentioned line. The re-test sets the stage for continuation of strength.
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