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GBP/USD Technical Update For The Week Commencing 3rd December
GBP/USD Technical Update For The Week Commencing 3rd December Cable moved to the highest level seen since the 5th November on Friday, before finding resistance at the 50% retrace level around 1.6061, as highlighted on the D1 GBP/USD analysis chart below. Price is now loosely trading in a consolidation range between the 1.6000 round number and recent resistance highs around the aforementioned 50% retrace level. A bearish engulfing candle formed on Friday but end of month fixing could be in part responsible for this price action. Any continued upside would need to break above the 1.6061 high from Friday and associated ... (full story)
