British Pound Rally Stalling at former Support
60 Minute Bars
Prepared by Jamie Saettele, CMT
“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.” The bottom of this range has been reached and turned back bulls twice on Monday but additional strength into 15525 cannot be dismissed. Additional technical research can be found at DailyFX.com.
Bottom Line – sell rallies into 15465-15525, stop 15670, target 15270, 15150