GBP/USD Retraces Part of Friday Reversal; Awaits UK GDP
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The January 2nd outside day reversal (first trading day of the year) is negated but GBPUSD carved out another one on Friday. What we are left with is a series of traps since 1/17 (bull and bear). 1.6400 remains an objective dividing line for direction.
-The bigger picture breakout objective is 1.6897.
LEVELS: 1.6399 1.6457 1.6500 | 1.6628 1.6667 1.6746
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