British Pound Upside Favored Towards Mid 15900s
300 Minute Bars
Prepared by Jamie Saettele, CMT
I wrote yesterday that “the next leg appears to be underway in the GBPUSD towards 15912 and 15958 (100% extension). 15690 is support.” The GBPUSD dipped this morning to 15665 before rebounding. Other pairs seems to suggest a bit more USD strength before the larger decline resumes. As such, respect potential for a dip to 15620 before the next bull leg into the mid 15900s. 15542 is the pivot.
Trend Strength (M,W,D) – (1), (1), 0
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