The GBPUSD continues to march higher. The pair has advanced on 9 of the last 11 days for around 500 pips. Now that is what I call A nice short-term move. The cross is rapidly closing in on important resistance at 1.63. A move to this level erases the entire decline from last May. The pair is now firmly above yearly trend line resistance at 1.6130. If the pair reached the 1.63 level price action around that level will be key. A bounce at that level could be the pullback that the pair needs. Support begins at 1.6180 and is followed a bit lower at the descending trend line at 1.6130.
Sup 1.6180 1.6130
Keane Plan..Looking for a test of either 1.63 or a pullback towards 1.6180.
To Access Yen Talk, Currency Watch Video, Current Trade Setups and Current Trades Via Twitter Feed Click HERE
Non subscribers can have a Free 1-week trial HERE