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GBPUSD 15525 Serves as Resistance

GBPUSD 15525 Serves as Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD 15525 Serves as Resistance

Prepared by Jamie Saettele, CMT

“The GBPUSD has reached the trendline that extends off of the 2009 and 2010 lows so we could get a bounce from these levels. If so, then resistance is 15530. A bounce into there would be a candidate to short against 15720.” Expect the bounce that started Friday to continue into 15525 before we get a run on 15233.

LEVELS: 15233 15268 15340 15460 15525 15600

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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