Wednesday, August 7, 2013

GBPUSD PRICE ACTION: Hidden Fakey Trade Setup. August 07, 2013

 GBPUSD has broken above its resistance at about 1.5430 after it faced intense bullish pressure as it approached Support. The break of this resistance clearly sets the pair on renewed bullishness. This setup is quite difficult if you already aren't in on the bulls, therefore. We would wait to see how price reacts to the resistance at about 1.5600.

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