GBPUSD buyers pushed prices higher yesterday following last week’s 130 pip gain. The 1.3587 close puts the pound above the former resistance level at 1.3545. I mentioned this level over the weekend. The idea was to wait for either a pullback into 1.3445 support or a daily close above 1.3545 resistance. With the break above 1.3545 behind us, traders can begin watching for buying opportunities on a retest of the area as new support. Although I don’t trade or teach it, the price action since late September does resemble a cup and handle formation. It’s a bullish continuation pattern that occurs within an established ... (full story)