It’s no secret that GBPUSD has been under pressure since April. The pair is down 1,700 pips following the 2,500 rally that commenced in October of 2016. More recently, the pound has struggled since closing below the 1.2700 handle on December 10th. The fact that GBPUSD buyers have struggled this week each time they reach the 1.2700 region is no surprise. The 1.2700 area previously held as range support since mid-August. However, I want to caution shorts here. The 1.2700 level is indeed acting as resistance. You don’t need to be an experienced price action trader to see that the area is attracting sellers. Despite the ... (full story)