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British Pound Technical Outlook

Friday, 27 June 2008 14:38:26 GMT

Written by Jamie Saettele, Currency Analyst

A C wave (of either a triangle or flat) is underway.

If a triangle, wave C likely continues until 2.02 (March 27 top).  If a flat, wave C will continue through 2.04.  Near term, look for support just below 1.98.

STRATEGY: Bullish, against 1.9583, target 1 at 2.0175, target 2 TBD

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