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GBPUSD Pattern PRE BoE Offers Opportunity

GBPUSD Pattern PRE BoE Offers Opportunity

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Pattern PRE BoE Offers Opportunity

Prepared by Jamie Saettele, CMT

15800 and 15900 remain levels of interest but I want bring attention to another possibility before tomorrow’s BoE inflation report. That is, wave 2 may be complete with a possible truncation. The implications would be for a sharp decline from the current level. It makes sense to keep this count handy given that the EURUSD is struggling to extend gains and recent relative weakness in the GBP.

LEVELS: 15458 15546 15600 15683 15730 15777

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

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