British Pound Break Targets 15750
Prepared by Jamie Saettele
The GBPUSD continues to test its 50 day average. Again, the larger pattern is a triangle from the 2008 low and I therefore favor selling rallies. Interest rate differential and a proprietary indicator that compares interest rate differential trend and price trend favor the downside. A break of the 50 day average would shift focus to the support line that extends off of the May and December lows, which intersects 15750 (pivot low) on Friday.
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