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Forex pairs in this Article » GBP/USD

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD 2nd Highest Close of the Year; 3 Year High at 1.6668

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-GBPUSD blew through the 1/24 close today. The last resistance before the high (1.6667) is the 1/2 high at 1.6602 and the 1/28 high at 1.6624. Continued ranging is possible but today’s advance is consistent with a bull trend.

-The first target on a break above 1.6667 is the measured objective from this year’s 1.6667-1.6251 range, at 1.7083. This is in line with the 2009 high at 1.7042.

-Supports are seen at 1.6557 and 1.6510

LEVELS: 1.6487 1.6510 1.6557 | 1.6628 1.6667 1.6746

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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