British Pound / US Dollar 03-24
“The extent of the decline from 15380 suggests that wave 4 is complete. I favor a drop below 14780 over the next several weeks in a 5th wave. Similar to the EURUSD, a small 2nd wave may be complete at 15118.” 14930-15000 is resistance and I favor a drop below 14780, which would expose a measured level at 14380.
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 email@example.com.
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