New high by less than 2 pips
The GBPUSD took a run to the upside on the USD selling, took out the triple high level by less than 2 pips and sold off. Make the triple top, a quadruple top now. Yesterday we got within 4 pips of the lower support level that has defined the Red Box in my GBPUSD post of late. That area encompasses from 1.2860 to 1.2988 (now 1.2990). It is now 15 days where of the trading activity has been in that box (there have been 3 brief failed breaks outside of that box – red shaded areas). Of course 1.3000 is a tough round number that traders are also focused.
Forex technical analysis: GBPUSD stays (give or take a couple pips) in the Red Box
