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British Pound Short-Term Outlook: GBP/USD Bulls Halted at Resistance
The British Pound rallied more than 5.7% off the early-October lows with GBP/USD halting the advance at technical resistance last week. The December opening-range is taking shape just below and while the broader outlook remains constructive, the October advance may be vulnerable here. These are the updated targets and invalidation levels that matter on the GBP/USD short-term technical charts. Technical Outlook: In last month’s British Pound Short-term Outlook we noted that a, “breakout of a multi-month downtrend in the British Pound has pulled back from near-term, uptrend resistance. From at trading standpoint, ... (full story)