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GBP/USD September Rally is Largest 1 Month Rally Since July 2010

By , Sr. Technical Strategist
30 September 2013 23:15 GMT

Daily

eliottWaves_gbp-usd_1_body_gbpusd.png, GBP/USD September Rally is Largest 1 Month Rally Since July 2010

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-GBPUSD has pushed to its highest level since Jan 3rd. The Jan 2nd close at 1.6252 is possible resistance before the year to date high of 1.6380. The measured move from the most recent range (1.6162-1.5954) is at 1.6369.

-The line that extends off of the 2011 and 2013 highs at about 1.6220 this week.

-Weekly RSI(13) ended last week at 66. This is the highest reading since the week that ended 11/09/2007.

Trading Strategy: Flat

LEVELS: 1.5999 1.6061 1.6127 | 1.6252 1.6290 1.6369

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30 September 2013 23:15 GMT