British Pound 20 day Average Just above Current Level
Prepared by Jamie Saettele, CMT
The GBPUSD is holding up well after testing the November low on Wednesday. Still, the trend is considered down against the December high (15770) price is nearing probable resistance from the 12/6 low and 20 day average at 15560/75. A drop below 15271 would confirm the 13 month head and shoulders top but could also complete a leading diagonal from the April high.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.