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FOREX Analysis: GBP/USD Resistance is Just above Current Level

FOREX Analysis: GBP/USD Resistance is Just above Current Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, FOREX Analysis: GBP/USD Resistance is Just above Current Level

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The GBPUSD is closing in on the oft mentioned 16227. Resistance from the near term upward sloping channel intersected 16227 today and is at about 16240 on Tuesday (a tag of the line would fit well with a final high in the EURUSD before it comes back to at least 13040/65).

FOREX Trading Strategy: Nothing.

LEVELS: 16001 16084 16171 16227 16272 16309

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

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