FOREX Analysis: GBP/USD Drops into Channel Support
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The GBPUSD continues to trade within a well-defined channel. The current level is defended by channel support, former resistance, and the 20 day average. In other words, this would be a good place for a bounce to materialize. Expect strength to prove corrective though as the decline from the top is impulsive.
FOREX Trading Strategy: Looking to sell into 16200.
LEVELS: 15961 16001 16084 16200 16244 16306
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