GBPUSD is at a crossroads. On the one hand, the pound is hovering just above key support at 1.2700. I mentioned this level last week and again on Sunday. And on the other, yesterday’s session tested a short-term resistance level that could be pivotal in the coming sessions. In my opinion, that resistance level is what buyers need to break to push GBPUSD higher. If they can’t, the 1.2700 support area will fail within days. It’s likely going to take a daily close either way though. I wouldn’t want to trade a GBPUSD breakout on the intraday time frames. The reason for that is two-fold. The first is that the 1.2700 area ... (full story)