GBP/USD Coils between 55 and 200 Day Averages
Chart Prepared by Jamie Saettele, CMT
-“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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.