Given the recent strength seen in GBP/USD it is worth noting that price action has broken a 34-year trendline on the yearly charts. This line is drawn from the 1972 high at 2.6440 touching 1980 (2.4540), 1981 (2.4270), 2004 (1.9550) and 2005 highs at 1.9325.
Longer term technical charts are always slightly more ambigous but the break and monthly close above this line in November at 1.8955 and 1.9661 respectively should be an encouraging signal for longer-term bull players who continue to favor a move back above the 2.00 mark.
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