GBPUSD Threatens Break to 2012 High
Prepared by Jamie Saettele, CMT
IF the GBPUSD takes out 16065 then focus would shift higher to the 61.8% retracement of the decline from 16745 and 10/31/11 high at 16165. You may also want to keep an eye on the trendline that extends off of the 2/8/12 and 2/29/12 highs. That line comes in at 16141 tomorrow. 16000 is support.
Bottom Line (next 5 days) – ?
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.