[I][U]Technical:[/U][/I][B] GBP/USD[/B]
[B]Resistance: 2.0420
Support: 2.0150[/B]
Has Cable found a hard support at the 50.0% retracement level of 1.9660 - 2.0660 at 2.0150?
Many technical analysts would argue that sterling price action is part of wave B in a large A-B-C correction from 2.0654. Others point to the rising wedge trend-line formation making a further case for a bearish outlook for cable.
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