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GBPUSD Makes a Run at March Low

GBPUSD Makes a Run at March Low

2012-05-29 20:02:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Makes a Run at March Low

Prepared by Jamie Saettele, CMT

The GBPUSD has entered a zone that was congestion in March (15601-15746). A zone that was previously congestion will likely provoke reactions again. In other words, this is a good place for the GBPUSD to find a near term low. Monday’s high (15716) serves as the pivot. The EURUSD commentary regarding news events is applicable.

LEVELS: 15500 15600 15720 15780 15850

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