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British Pound Holds Range Low

British Pound Holds Range Low

2012-02-23 02:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, British Pound Holds Range Low

Prepared by Jamie Saettele, CMT

I wrote this morning that “the GBPUSD has plummeted on that back of dovish BoE minutes. Still, a C wave decline from 15928 is a valid interpretation.” That interpretation is reinforced with the turn higher. 15730 and 15695 are supports. Eventual objectives are above 16000. 15760 and 15810 are interim resistance levels.

Bottom Line – Higher

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