Gbpusd has been able to maintain the bullish momentum that resulted from a test of, and bounce off its daily support line at the 1.6070 area. This momentum pushed it to 1.6328, thereby exceeding the previous weekly high at 1.6299. Of importance is the fact that the weekly trendline is being tested at current level (1.6300…see chart below). This resistance can, in no way be considered minor, however, I am extremely reluctant to consider shorts in spite of the resistance. I favour buying on dips for the following reasons: A major reason that prompted many traders to look for shorts on this pair is the fact that there ... (full story)