GBP/USD Follows Through on Key Reversal; Heads up on 1.4250
Chart Prepared by Jamie Saettele, CMT
-There is no change to comments on GBP/USD. “Cable recently traded to its lowest level since March 2009. The January 2009 low is the next horizontal level of interest at 1.3501. Range expansion levels from the breakdown are 1.3718 (61.8%) and 1.3494 (100%). If the path of least resistance is lower, then resistance should reside near 1.4250.”
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.