By Russell Glaser
The GBP/USD has risen in early trading to a resistance line that may contain the pair for the rest of the trading day.
As the Cable rises, it has run into a resistance level at 1.5650. Traders may be able to use this as an entry point to short the pair with a first target at the short term support level at 1.5540 followed by the December low at 1.5340.
Further resistance may be found at the falling trend line from the November high which comes in today at 1.5700.
Forex Market Analysis provided by ForexYard.
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