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British Pound Technical Forecast: GBP/USD Rejects 1.30 Ahead of BoE
The British Pound rallied 0.48% against the US Dollar this week with GBP/USD poised to close well off the weekly highs. While the technical outlook remains constructive, Sterling may be vulnerable here on the heels of an 11% run off the yearly lows with major event risk on tap into the August open. These are the updated targets and invalidation levels that matter on the GBP/USD weekly technical chart. chart Technical Outlook: In my last British Pound Weekly Forecast we noted that Sterling was carving the July opening-range just below resistance with a, “topside breach / close above the June high needed to mark ... (full story)