Globally, it seems USDX facing potential barriers as anticipated before on this area. In parallel, there is resistance of #PoundSterling to keep strengthening that have occurred since January 16,2017.
Indeed, there was a pressure on #Cable in the area 267x, however January Fibo 50 to 61.8 already provide strong support to keep #GBPUSD remain above 200 MA and has damaged the down trend pitchfork channel to the north pole.
There are still some bottleneck to go to the north pole directly , off course - like to air trip... sometimes no direct flight and just enjoy the travel, but if weekly market closed bullish and Previous Monthly Fib - 50 can provide support strong, very likely will remain engaged #sterling to the north, although with difficulty. Where is the destination ? Just check your airline ticket on the chart above . No problem, Hotel for a break and coffee with bear might be available also there ... So Just book the hotel room now :)
Vice versa , if the weekly candle turn bearish, most likely, GU will have sideways in the following times with a tendency to lead to previous monthy Fib - 50, if it's broken, 2250 should be in the card to watch closely with a stop loss at 2700.
Only my personal analysis for 4H time frame and still consider the UK-EU fundamental , particularly BREXIT issues.
Safe Trade.
Rgds, Iqyu
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