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British Pound Technical Outlook
Tuesday, 30 June 2009 14:31:40 GMT  |  Jamie Saettele, Senior Currency Strategist
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I wrote yesterday that “although evidence favors a top and reversal, the GBPUSD has yet to confirm as much.  An alternate, in which Cable will trade higher in a 5th wave terminal thrust, is gaining more credibility each passing day.”  The rally from 1.6231 is in 3 waves but could be wave i of an ending diagonal in the wave v position.  Staying above there keeps the trend pointed up and there potential support at 1.6430.

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