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GBP/USD Ranging to Clear way for Next Directional Move

GBP/USD Ranging to Clear way for Next Directional Move

2016-06-07 18:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD Ranging to Clear way for Next Directional Move

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. For more on Cable, watch this video.

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