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GBP/USD prevented from moving upwards
Cable continues to respect the rising hourly trendline but so far is unable to make much progress above $1.56. Yesterday we saw it spike towards $1.57, but the resistance zone (red box on hourly chart) that has held back gains since mid-July is still preventing real moves upwards for the time being.
The really bullish development would be a close above $1.5680, but so long as we remain above the 200-hour SMA ($1.5573) then I will still be cautiously bullish.