GBPUSD Looking Better
GBPUSD is looking much better lately after putting in a higher low last week than the December low. Even prior to this most recent 3-day rally GBPUSD showed underlying strength last month when it pulled up well ahead of the October lows just above 157.00. A close above 162.00 could open the door to a re-test of the top of the 6-month trading range at approx 170.00.
The Weekly chart below gives us an overview of GBPUSD over the last two years.
Jay Norris
www.trading-u.com
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