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GBPUSD Technicals for July 21st

GBPUSD Technicals for July 21st

2010-07-21 14:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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DT-10-07-21-GBP 

5 waves up from the May low are visible so expectations are for a 3 wave correction down to at least 14950 (4th wave low). A secondary (b wave?) top may be in place at 15340.

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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