British Pound Short Term Channel Defines Trend
300 Minute Bars
Prepared by Jamie Saettele, CMT
The GBPUSD has roared higher into the 50% retracement of the decline from the August high. The breakout level is now support at 15850 and focus has shifted higher towards the 61.8% retracement and 200 day average at 16100/30 (the August low at 16109 reinforces resistance at this juncture) and the 100% extension of the rally from 15272 at 16211.
Trend Strength (M,W,D) – (1), 0, 1
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