British Pound Focus on 15950
240 Minute Bars
Prepared by Jamie Saettele
Divergence with highs over the past month warns of a GBPUSD top. That top may very well be in place as the GBPUSD has declined over 200 pips from its recent high. Near term support comes in at 16050 and 15950 (both Fibonacci extensions and former supports). Interest rate differential and a proprietary indicator that compares interest rate differential trend and price trend favor the downside as well.
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