GBP/USD Mid-1.40s Battle Ongoing
Chart Prepared by Jamie Saettele, CMT
-There is no change to recent GBP/USD comments other than accentuating the importance of the mid-1.40s current level), which is highlighted. “GBPUSD continues to trade above long term support (see here) but price needs to take out 1.4515 in order to eliminate the wet blanket behavior. A push through the noted level would complete a 2+ month head and shoulders bottom and target longer term downtrend resistance near 1.50. Until then, downside continuation into the low 1.30s cannot be dismissed.”
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