GBP/USD Measured Target is Near 2009 High and 2005 Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD traded to its highest level since May 2011 today. As mentioned previously, “continued ranging is possible but today’s advance is consistent with a bull trend.”
-The first target on a break above 1.6667 is the measured objective from this year’s 1.6667-1.6251 range, at 1.7083. This is in line with the 2009 high at 1.7042.
-Support is seen at 1.6601.
LEVELS: 1.6510 1.6557 1.6601 | 1.6683 1.6746 1.6878
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