Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-GBP/USD continues to trade around an important long term parallel (magenta line). The parallel is defined by the 2007-2011 trendline (off of the highs) and extends off of the 2009 high. That line has pinpointed major inflection points for years. In other words, GBP/USD is at important resistance. Likewise, a move above the level would be seen as significant.