SAXO:GBPUSD   British Pound / U.S. Dollar
GBPUSD: I was bearish GBPUSD for the past week but it clearly seems bulls are in control. Cable has not yet secured a break above the June high at 1.2809--key resistance in my view. I think the 1.2810 area is vulnerable. Short term gains above 1.2750--minor intraday resistance--would be a heads up signal that a more serious test of the low 1.28s is developing. I am leaning bullish for now but conviction is weak while 1.2810s. If we could get past this price ill add on to my bullish position..

Comments

the rise in gbp is due to dollar weakness across board. cable will correct once the dollar picks up.
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