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GBPUSD Inside Day-15515 and 15720 Remain Key

GBPUSD Inside Day-15515 and 15720 Remain Key

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Inside Day-15515 and 15720 Remain Key

Prepared by Jamie Saettele, CMT

“The GBPUSD rally has carried price into channel resistance that extends off of the 6/20 and 7/2 highs. Resistance is reinforced by the 7/2 low at 15641 and channel that defines the rally from 15392.” Price is pressing against the channel but has yet to break higher. A more drawn out complex correction into the 100% extension of the 15267-15777 rally at 15900 is would come into focus on a move through 15720. 15516 is now support.

LEVELS: 15460 15516 15580 15720 15777 15900

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

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