There is a really apparent upward trending support zone on the 4 hour which has continued to hold up the Pound. One again price has reversed sharply pushing higher against the USD. As this entire move looks corrective I am expecting price to eventually break through the bottom of the channel and make a new low. Until then it is not safe to get short unless we move to near the top of the channel or if the support zone has been decisively breached to the downside. Expect resistance just above 1.55 as this has held price in the past.
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