GBPUSD May Take a Dive

Daily Bars

Prepared by Jamie Saettele, CMT

15800 and 15900 remain levels of interest but I want bring attention to another possibility. That is, wave 2 may be complete with a possible truncation. The implications would be for a sharp decline from below 15777. It makes sense to keep this count handy given bearish implications from the EURUSD pattern (3 waves up, even if part of a larger correction).

LEVELS: 15458 15546 15600 15683 15730 15777