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British Pound Technical Outlook

Tuesday, 11 August 2009 14:07:38 GMT | Jamie Saettele, Senior Currency Strategist

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Thursday, 27 August 2009 01:35:37 GMT British Pound Drops Below Initial Support Against US Dollar, Sell Entry Ahead
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Monday, 20 July 2009 14:59:44 GMT British Pound Technical Outlook

The GBPUSD break above 1.6750 was from a triangle and thrusts from triangles are terminal (meaning that they complete larger degree moves). The next chart support is 1.6340. Near term, the decline from the top is most likely a first wave. A second wave correction is expected upon completion of the initial bear leg from above 1.7000. The trade here comes on selling the second wave bounce.

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