Sterling Holds Strong Resistance

Technical resistance holds at the 26-year high of 2.0367, as price action tests the level three times before correcting to congestion

[I][U]Technical:[/U][/I] [B]GBP/USD
Resistance:[/B] 2.0400
[B]Support:[/B] 1.9800
Meanwhile, the Relative Strength Index (RSI) readings continue to indicate overbought levels. With resistance standing at 26-year highs, traders utilize Fibonacci levels to forecast support and resistance levels before initiating a position.

See Daily Technicals for more details