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17 Feb 2014
Flash: GBP/USD headed towards 1.70 - 2ndSkies
FXStreet (Bali) - The latest breakout of key resistance in GBP/USD suggests further gains ahead, notes Chris Capre, Founder at 2ndSkies Forex.
Key Quotes
"After forming dual pin bars on Feb. 5th, the pair rocketed higher closing bullish 7 days in a row and breaking above a key resistance level. Taking out this swing high will likely lead to technical players getting more bullish."
"I’ll look for breakout pullback setups between 1.66 and 1.6650 to get long. A daily close below the former level in a quick move suggests a false break. Upside targets would be 1.68 and the big figure at 1.70."
Key Quotes
"After forming dual pin bars on Feb. 5th, the pair rocketed higher closing bullish 7 days in a row and breaking above a key resistance level. Taking out this swing high will likely lead to technical players getting more bullish."
"I’ll look for breakout pullback setups between 1.66 and 1.6650 to get long. A daily close below the former level in a quick move suggests a false break. Upside targets would be 1.68 and the big figure at 1.70."