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GBPUSD Rally Intact Above 1.2960
GBPUSD reached a twenty-month low on January 3rd. It didn’t receive much attention though, probably because it only lasted for a few minutes. The bullish pin bar that formed as a result of the January 3rd flash crash sent GBPUSD higher in a hurry. To put things in perspective, GBPUSD is now up 600 pips in just 14 trading days. I pointed out the bounce that occurred on the 15th as a result of the much anticipated Brexit vote. We also discussed how the 1.2830 area would serve as support this past Sunday. Sure enough, GBPUSD reached a low of 1.2830 on Monday before rallying another 200 pips. So far today, the pair has ... (full story)