GBPUSD Bursts to 3 Month High
Prepared by Jamie Saettele, CMT
The GBPUSD rally above 15700 shifts focus to the Fibonacci confluence at 15900 (61.8% retracement and 100% extension of the 15267-15777 rally) and the channel line closer to 16000 in the coming weeks. The near term trend defining level is the low of the day prior to the most recent inside day. That day is 8/16 and that low is 15635. 15720/45 is support.
LEVELS: 15674 15720 15745 15810 15850 15900
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.