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Sterling Technical Analysis: GBP/USD Softens, Support in Sight
The bullish theme in the British Pound remains of interest as GBP/USD made another run at key resistance. As looked at yesterday, the 1.3000 level looms large as this is the area that held buyers at bay during the big breakout from the month of October. And with this being a major psychological level coming into play after the 1.2000 price was tested in early-September, the pair had run really far really fast already. At this point, buyers have been thwarted twice and are currently in the midst of a third test of this zone; but bid pressure has calmed and since yesterday morning, price action has been softening in ... (full story)