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GBP/USD Support before the Low Comes in at 1.6628

By , Sr. Technical Strategist
25 February 2014 21:59 GMT

Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Support before the Low Comes in at 1.6628

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-GBPUSD made a key reversal on 2/17. The pullback occurs after a push above the 2011 high and test of the best level since November 2009.

-A daily key reversal at the top of a multiyear range is not something to dismiss. The key reversal day close was resistance on Tuesday.

LEVELS: 1.6391 1.6536 1.6628 | 1.6713 1.6740 1.6800

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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25 February 2014 21:59 GMT