GBPUSD; Long Term Are Above 1.70


GBP/USD Long Term Chart (Source : Daily Market)
The cable has broken through the 1.60 level, and has also found support at that level. Based upon long term support and resistance areas, it appears that 1.60 and 1.70 are important areas, and we are starting to make a move towards that higher value. Peak and trough analysis shows higher lows, and points us in a northerly direction. If we can break above 1.70 – the Pound will only be bought at that point, and never shorted. (Source http://www.dailymarkets.com)

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