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GBP/USD Breakout Targets Near 1.50

GBP/USD Breakout Targets Near 1.50

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Breakout Targets Near 1.50

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The most recent noted that “Cable needs to take out 1.4515 to indicate that the bottoming interpretation is correct. Until then, the waters are murky.” GBP/USD has taken out 1.4515, which supports a bullish interpretation based on the head and shoulders bottoming formation. Focus is towards 1.50 (trendline and 200 day average).

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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