British Pound Reverses Ahead of 16300
240 Minute Bars
Prepared by Jamie Saettele
A final high cannot be ruled but a drop below the red dashed channel would increase the probability that the GBPUSD is headed down to 15750 in the coming days. It is possible that the last few wiggles compose small waves 4 and 5 (of 5). Given the EURUSD topping implications, I would not take a bullish position here in the expectation of a slight new high.
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