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British Pound Technical Outlook

Monday, 29 June 2009 14:31:16 GMT | Jamie Saettele, Senior Currency Strategist

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Tuesday, 21 July 2009 14:19:53 GMT British Pound Technical Outlook

The rally from 1.3500, although strong, still counts well as a correction (3 waves). In fact, price reached and reversed at a former 4th wave (common guideline). Although this evidence favors a top and reversal, the GBPUSD has yet to confirm as much. An alternate possibility, in which Cable will trade higher in a 5th wave terminal thrust, is gaining more credibility each passing day.

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