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British Pound Short-term Outlook: GBP/USD Bulls Emerge
The British Pound rallied more than 2.1% off the November low with GBP/USD now approaching initial resistance into the September downtrend. The weekly opening-range is set heading into tomorrow’s US non-farm payroll report and the focus is on a potential breakout in the days ahead. Battle lines drawn on the GBP/USD short-term technical charts. Technical Outlook: In last month’s British Pound Short-term Outlook, we noted that GBP/USD was, “approaching a major support pivot and while a break of the monthly opening-range keeps the focus lower, the immediate decline may be vulnerable into this zone. From at trading ... (full story)