GBP/USD Breakout Targets Near 1.50
Chart Prepared by Jamie Saettele, CMT
-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).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.