British Pound Short Term Bullish Channel-Support Under 15700
300 Minute Bars
Prepared by Jamie Saettele, CMT
I wrote yesterday that “the rally from the low (15271) is impulsive (5 waves) and weakness would present a bullish opportunity. 15500/25 is support.” The FX markets haven’t offered much opportunity recently to get in to these USD shorts as USD strength has reversed before resistance. In any case, the next leg appears to be underway in the GBPUSD towards 15912 and 15958 (100% extension). 15690 is support.
Trend Strength (M,W,D) – (1), (1), 0
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