GBPUSD Express Train Uptown
2012
The GBPUSD made short work today moving from what looked like a cliff lower to test the highs of the week. The pair caught many traders of guard following Wednesday's GDP report which indicated the economy is moving closer to a depression. This squeeze higher broke through resistance at 1.5580 and 1.5675 to stabilize around what is now support at 1.5675. I would expect a bit of a pullback after such a large move higher but one has yet transpired. Resistance is at 1.5720.
Sup 1.5675
Res 1.5720
Keane Insight: Looking for a pullback towards 1.5580 or a push above 1.5720.
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