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British Pound Technical Outlook

I wrote yesterday that “divergence with RSI on the daily chart also warns of a pending rally.  A significant congestion zone has formed, and a strong directional move is expected soon.  The weight of evidence suggests that the move will be higher.”  The GBPUSD has gone through 1.50 after having tested 1.45 just yesterday.  Additional upside is expected.  The next resistance is former support at 1.5259.  1.5420 is calculated monthly pivot R1.  Risk can be moved to 1.48.