British Pound Sharp Moves Indicative of Impulse
Prepared by Jamie Saettele, CMT
The turn higher is respected and a larger rally favored over the next month or so in order to correct an ugly diagonal from the April high (like the EURUSD?). A push above the December high of 15781 would shift focus much to the August-November trendline, at 15866 today (decreases about 4 pips per day). Near term supports are 15620 and 15560.