British Pound Price Action Setups: GBP/USD, GBP/JPY
While USD bulls came back to life from mid-April through last month, GBP/USD has held up relatively well. The pair did test a fresh low in late-June but support held at a key Fibonacci level of 1.3143, and that's where the music stopped for sellers and since then a strong bullish reversal has taken over that's seen Cable rip for more than 400 pips into yesterday's fresh monthly high.