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GBP/USD Lowest Daily Close in Almost 5 Years

GBP/USD Lowest Daily Close in Almost 5 Years

Jamie Saettele, CMT, Sr. Technical Strategist


GBP/USD Lowest Daily Close in Almost 5 Years

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.