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British Pound Pivot is 15600

By Jamie Saettele, CMT, Sr. Technical Strategist
01 September 2010 16:32 GMT

60 Minute Bars

elliotwaves_gbpusd901_body_100901_091102_CQG_IC_Screen.png, British Pound Pivot is 15600

Prepared by Jamie Saettele

“The GBPUSD decline has also failed to accelerate as price has traded sideways for the last week. Above 15600 would turn the short term trend bullish.” If the rally from 15324 extends into 5 waves, then we’ll have an opportunity to buy a dip, even before a move above 15600.

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01 September 2010 16:32 GMT