Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GBP/USD Technical Outlook - 2

In our previos analysis, we warned that this pair is approaching a stiff resistance and recommended being in a hold state at current levels.

In the weekly chart, Cable is in a powerful descending channel. In the area shown in the chart, we expect the bulls to liquidate their long positions and thusly we will seek shorting opportunities.

Stocks: FXB