Tanalys

GBP/USD Nearly 6 Year Low; Downtrend Support Still Lower

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Chart Prepared by Jamie Saettele, CMT

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-Near term, GBP/USD continues to decline within the confines of a well-defined channel. Longer term, the cross traded below the 2015 low today but be aware of slope that crosses virtually all important lows over the last 5 years in the next couple hundred pips. Countertrend strength could materialize off of these levels.

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