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British Pound Focus is on 15962

British Pound Focus is on 15962

2011-03-10 15:56:00
Jsaettele,
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Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Focus is on 15962

Prepared by Jamie Saettele

The GBPUSD continues to decline and is nearing a potential support area of 15962/91 (former pivot low and 50 day average). Interest rate differential and a proprietary indicator that compares interest rate differential trend and price trend favor the downside. Coming under 15962 would shift focus to 15750. I am bearish and risk can be moved to 16250.

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