| GBP/USD - Inches To The Upside Posted: 15 Apr 2010 09:27 AM PDT  Price action on GBP/USD, a daily chart of which is shown, has stagnated in somewhat of a bullish consolidation since breaking out above the peak of a double-bottom formation early in the week. Although the double-bottom pattern was confirmed by the breakout above the peak, price has not yet followed-through to the upside in any substantial manner. Currently, the pair is consolidating underneath the high of the day, which represents a 7-week high for the pair. For more technical analysis on this currency pair, please click here for Thursday’s (4/15/2010) Chart of the Day.
- James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. 
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