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GBP/USD Rejection Below 1.5600 a Good Sign

GBP/USD Rejection Below 1.5600 a Good Sign

2013-05-09 15:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
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It's a good sign for bears that the GBPUSD could not take out the high. As such, the bearish outlook is on track. A break of the early month low would shift focus to the 4/11 high at 1.5410. Bigger picture, the May top could be extremely important.

Continue to keep an eye on GBPJPY as well. 154.30 could cap a rally.

@JamieSaettele

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