News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
British Pound Support at 15740/70

British Pound Support at 15740/70

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Support at 15740/70

Prepared by Jamie Saettele, CMT

Taking our cue from the EURUSD, the 2/14 low may prove to be a B wave low within an A-B-C advance that ends above 16000. The 61.8% extension of the 15233-15928 rally (wave A) is at 16074, in the middle of the 50% and 61.8% retracements of the decline from the 2011 high. Support is 15770 and 15740.

Bottom Line – Long on weakness below 15770, stop 15640, target 16100

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES