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GBP/USD Near Term Focus Still on 1.4300

GBP/USD Near Term Focus Still on 1.4300

2016-06-02 22:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD Near Term Focus Still on 1.4300

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The last update noted that “a bullish bias on GBP/USD is valid based on the head and shoulders bottoming formation but support needs to register from the top side of the neckline in order to maintain constructive for a run at 1.49. The neckline is just above 1.4300.” GBP/USD made low at 1.4332 on 5/16 and turned up sharply. Of course, it took just a few hours for Cable to give back the last 6 days of trading so another run at the mentioned neckline may be in store.

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