GBP/USD Trades Mid-Channel
05 May 2016 23:05, GMTDaily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-The most recent noted that “GBP/USD has taken out 1.4515, which supports a bullish interpretation based on the head and shoulders bottoming formation. Focus is towards 1.49 (trendline and 200 day average).” The outside reversal on 5/3 warns of at least a return to re-test the neckline, which would be near 1.4350/60…if not outright failure.
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