GBP/USD – ABC Pullback to Key Short-term Resistance

Posted by on Dec 10, 2012

GBP/USD 1H Chart 12/10/2012 8:05AM EDT As I was wrapping up this article, there was a push above 1.6060, and the RSI is clearing 60, so it looks like we are starting the US session turning cable away from last week’s bearish outlook. Below was the analysis preceding this push. Abc pullback: GBP/USD broke below a rising trendline last week, and eventually found support at the 1.60 handle last Friday (12/7). From there we are seeing a pullback so far in an abc manner. As we begin the 12/10 US
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