JeffCheung

GBPUSD is at key resistance level

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD
Ever since broken up the long term downtrend line extended from NOV 2007 and JULY 2014, the GBPUSD has been in a very bullish movement for the past few weeks, however at daily timeframe it has tested the major mid-term resistant level extended from 13th Mar 19 and 13th Dec 19 twice at the past 14days, and couldn't manage to close above it. It looks like it will try the third time this week, and we are expecting a bullish breakout if it can close above the line this week, otherwise a deeper retracement or side way consolidation could happen.
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