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British Pound / US Dollar 07-02

British Pound / US Dollar 07-02

2010-07-02 16:11:00
Jamie Saettele, CMT, Sr. Technical Strategist
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DT 10-07-02_gbpusd

The GBPUSD has reached parallel channel resistance in what may be a 4th wave rally. I am expecting a top and reversal. Favor the downside from here. 15080 is potential short term support.

 

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosses on 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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