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British Pound Resistance above 15500

British Pound Resistance above 15500

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Resistance above 15500

Prepared by Jamie Saettele, CMT

I continue to view strength as an opportunity to get short against 15670. Resistance for Wednesday is 15525/80. The bottom of this range is reinforced by the 50% retracement of the decline from 15670 and former pivot. The top of the range is the 1/4 low. Support is 15435/45.

Bottom Line – sell rallies into 15525/80, stop 15670, target 15270, 15150

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