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GBPUSD Resitance at 15780

GBPUSD Resitance at 15780

2012-03-07 22:51:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Resitance at 15780

Prepared by Jamie Saettele, CMT

The GBPUSD is in the same position as the EURUSD. I am looking lower over the next several days but probably not before corrective action into 15780-15800. A bearish bias is warranted against the March 1 high of 15975 but price ideally stays below Tuesday’s high of 15881. Look to sell a spike on BoE tomorrow morning.

Bottom Line (next 5 days) – lower

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