GBP/USD Possible Trendline Crosses about 1.6154 on Wednesday
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD is showing signs of failing after breaking above multi-month consolidation (1.6259). Possible trendline support is near 1.6150 on Wednesday.
-Consider a multi-week topping process a possibility as long as price is below 1.6415.
Trading Strategy: Not much to do for me here but keep an eye on GBPNZD.
LEVELS: 1.6132 1.6197 1.6240 | 1.6330 1.6415 1.6443
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.