British Pound Bears Crack 15700-15630 and 15580 are Supports
240 Minute Bars
Prepared by Jamie Saettele, CMT
The GBPUSD drop below 15705 (2/1 low) resulted in a test (and dip below) of the 38.2% retracement of the rally from 15232-15928. The 100% extension of the decline from the top (where the 2 legs from the top would be equal) comes in at 15628 but support is holding from a short term channel. 15770 serves as the pivot (above is bullish and below bearish).
Bottom Line – flat
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