GBP/USD : Continuing Higher
GBP/USD” title=”GBP/USD” src=”https://d1-invdn-com.akamaized.net/content/pic693e9ca7ce688b2557c163156358df13.png” height=”335″ width=”966″ />GBP/USD continues higher in the strong 3 month bull trend to test long term 2 year trend line resistance at 1.6220. We have run as far as 1.6247 but it is becoming risky to hold longs any further. Only a weekly close above 1.6230 would be certain to allow the bull run to continue. However be ready to go with a break above 1.6250 today for 1.6300/10.Although we may start to run out of steam it would be very unwise to bet against the bull trend line so entering shorts at this stage is not advised. If we do see the pair ease, look for support at 1.6203 then 1.6163/47 for a buying opportunity.