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British Pound 15535 is Resistance for Friday

British Pound 15535 is Resistance for Friday

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound 15535 is Resistance for Friday

Prepared by Jamie Saettele, CMT

“Bottom line - action since the 11/25 low is best described as sideways and may compose consolidation before a thrust lower that tests the October low and a leading diagonal from the May high.” Weakness today increases confidence in the downside bias. With price testing the 1/2 low, the GBPUSD could see a bounce but resistance is expected at 15535/60.

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