Weekly
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-“The sharp turn higher (and weekly reversal) is promising for longer term bottoming prospects, especially in light of the mentioned divergence.”
-“GBPUSD is made good on its divergence and daily RSI poked above 70 for the first time since the top last July.” The recently broken parallel is now estimated support near 1.5490. The red parallel may provide resistance near 1.5785.
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