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GBPUSD Trades to Highest Level Since November

GBPUSD Trades to Highest Level Since November

2012-03-27 00:11:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Trades to Highest Level Since November

Prepared by Jamie Saettele, CMT

The GBPUSD traded to its highest level since 11/14/11. Interest was lacking as the range was the smallest since 1/10/12 and price closed on its lows but near term pattern is constructive ahead of UK GDP. Short term support is 15920 and the next resistance is 16050.

Bottom Line (next 5 days) – sideways/higher?

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