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GBPUSD Possibilites After Fed Release
Tuesday, 05 August 2008 17:11:05 GMT  |  Jamie Saettele, Senior Currency Strategist
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If the GBPUSD spikes lower following the Fed release, then look for support near 1.9470.  This would present a bullish opportunity against 1.9364.

08-05-08TOP1

08-05-08TOP2

If the GBPUSD spikes lower following the Fed release, then look for support near 1.9470 (this is the 6/17 low and should be defended by triangle support.).  Expectations are for wave E of the triangle to unfold and end near 1.9850/1.99 before the longer term decline resumes. 

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