Chart of The Day $GBPUSD 12-02-2016

On the GBPUSD daily chart we can see that the pair bounced from rectangle retest 1.2300 and has formed an upside channel. Strong upside resistance and a test for upside continuation is 1.2800-1.2900 zone if reached. 100 SMA (red line) stands at 1.2752 level. Break of 1.2300 to downside is needed for extension lower.

Happy trading! (click on the chart to enlarge it)



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