GBP/USD jumps above 1.29, eyes resistance at 1.2923

Nice rebound from 38.2% Fib yesterday and fresh demand noted around 50-DMA and trend line supp. Subsequent move higher to 1.29 indicates potential for an extension of rally to 1.2923 – 23.6% Fib. 10-DMA – still sloping higher seen offering hurdle at 1.2938.

Daily chart

GBPUSD D1 (07-11-2017 1314).png

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