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GBP/USD – Meets Resistance Again Near 1.6850
The last few days has seen the GBP/USD slowly edge back towards the key 1.68 level after moving to a multi-year high near 1.6850 within the last week however in the last 24 hours it has moved strongly back to resistance around 1.6850. The last month has seen a steady climb higher from a one month low below 1.65. About a month ago the resistance level at 1.6750 became important as the pound was struggling to make any break above it. This level eventually led the pound to fall to its one month low before the recent resurgence. The 1.6650 level also became important as it provided reasonable support during that period. ... (full story)