A few days ago I wrote about the GBPUSD. The pair was challenging the 1.2100 (new) resistance area after falling below it on August 9th. I also wrote about descending channel support at 1.2000 in Sunday’s post. The pound has caught a bid nicely from this area so far this week. However, buyers still have work to do. Although the pair is trading above that 1.2100 resistance area as I type this, it’s going to take a daily close above it to expose higher levels. Remember that I use New York close charts so that each 24-hour session opens and closes at 5 pm EST. A daily close above 1.2100 would likely attract buyers on a ... (full story)