GBP/USD Bounces from Month Open
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD has pulled back from the high and the decline from Thursday’s high is impulsive (5 waves). It is possible that an important top has formed (don’t forget about COT being extreme). Weakness below 1.6565 would make a strong case for a sharp decline.
-1.6783 is now possible resistance.
LEVELS: 1.6565 1.6620 1.6660 | 1.6753 1.6783 1.6822
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