The GBPUSD just tested a former multi-year resistance level as new support. We’ve discussed the 2014 trend line several times in recent weeks including the November 29 close above it. As you can see from the chart below, GBPUSD bulls reacted almost immediately when today’s session hit a low of 1.3318. That’s approximately 35 pips below the 2014 trend line that had it’s way with the pair back in September. The big question now is what happens throughout today’s session. Yes, the pair has bounced from former resistance and is carving a bullish pin bar, but will it close this way? The answer to that question will remain ... (full story)