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British Pound Resistance at 15465

British Pound Resistance at 15465

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Resistance at 15465

Prepared by Jamie Saettele, CMT

“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.” The GBPUSD has accelerated into the bottom of its range and I expect a break and test of the October low at 15270. Levels of interest below there are 15150 and 15000. Any strength would present an opportunity to get short against 15670. Resistance is 15465-15525.

Bottom Line – sell rallies into 15465-15525, stop 15670, target 15270, 15150

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