GBP/USD Lowest Daily Close in Almost 5 Years
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“Since the 3/18 reversal, GBPUSD has traded sideways to down in a choppy manner. In fact, an intraday pattern reveals a possible bullish wedge since 3/20 and measured objective of 1.5240. Daily and weekly divergence with momentum at price lows indicate potential for a bullish outcome.” Potential looked better for a time on Wednesday; Thursday’s move brings 1.4350 back into focus.