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GBPUSD falls into the lap of the August trend line

The tech plays ball but resistance looms

GBPUSD has tumbled alongside the other USD pairs but has found support around the August trend line. Intraday support at 1.3280 was firmly knocked out and already we're seeing resistance build just below at 1.3270.

Unfortunately I started this post just before the data and I was going to highlight the support around 1.3236. We've already danced that dance and the data and Tarullo have helped the dollar rally spring a leak.

GBPUSD 15m chart

Unfortunately I started this post just before the data and I was going to highlight the support around 1.3236. We've already danced that dance and the data and Tarullo have helped the dollar rally spring a leak.

Nevermind, we still have two questions to ask to gauge direction. 1.3280 or 1.3236

GBPUSD H4 chart.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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