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British Pound / US Dollar 03-09

British Pound / US Dollar 03-09

2010-03-09 15:49:00
Jamie Saettele, CMT, Sr. Technical Strategist
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gbpusd0309
After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over.  I favor a drop below 14780 in a 5th wave.  Risk can be moved to 15200.  15030 and 15110 are potential resistance levels.
 

 

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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