British Pound Holds Range Low

60 Minute Bars

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