GBP/USD Update – 19/09/2017 (11:40am) – by Arjun Lakhanpal

GBP/USD Update – 19/09/2017 (11:40am): Last week’s break above key-resistance barriers at 1.3273 and at 1.3504 (2009 low) constituted a game change in favor of a new, long-term up-trend and challenged 1.3622/1.3711 (weekly trend/50 %).  The latter looks fairly strong though and could at least trigger a temporary setback to 1.3326 and 1.3296/67 (minor 38.2 % on 2 scales), which has to be defended in order to prevent a deeper setback to 1.3042/1.2996 (int. 38.2 % on higher scales). On the other hand, it takes a break above 1.3836 (Feb. 2016 low) to get 1.4342 (50 %) into focus next.