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FOREX Analysis: GBP/USD Maintains Quiet Range above Trendline

FOREX Analysis: GBP/USD Maintains Quiet Range above Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, FOREX Analysis: GBP/USD Maintains Quiet Range above Trendline

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The GBPUSD continues to hold trendline support but price action is lackluster for bulls when one considers what the EURUSD is doing. That said, respect the upside as long as price is above 15991. Weakness below that level would open up 15822.

FOREX Trading Strategy: Flat

LEVELS: 15961 15992 16022 16130 16180 16252

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

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