British Pound Short Term Bearish Pattern
Prepared by Jamie Saettele, CMT
Yesterday’s key reversal combined with short term structure (impulsive decline + corrective rally) is near term bearish. As mentioned yesterday, “this is the first such reversal since 10/31/2011.” Near term focus is on the Monday low at 15729 of which a break below is needed in order to trigger losses towards 15640 and perhaps 15520.
Bottom Line – flat
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