GBP/USD Daily Wicks at Trendline Warn of Turn Lower
Chart Prepared by Jamie Saettele, CMT
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-Long wicks on the daily at a trendline indicate potential for near term (at least) weakness.
-Previous comments remain valid. “Since completing a head and shoulders top in August, GBP/USD has endured 3 decent swings within a relatively well-defined range. Support from the multi-month structure does continue to hold (last support identified this latest low) so a break above the short term trendline (testing now) could result in upside acceleration.”
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