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GBP/USD Possible Trendline Crosses about 1.6154 on Wednesday

GBP/USD Possible Trendline Crosses about 1.6154 on Wednesday

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Possible Trendline Crosses about 1.6154 on Wednesday

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-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.

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