GBP/USD Can’t Muster Much in Way of a Bounce
Chart Prepared by Jamie Saettele, CMT
-No change regarding Cable comments other than reminding of the crash day close at 1.2433 as a pivot. “GBP/USD has broken through the bottom of the triangle. As such, focus is lower towards 1.2612 (127.2% expansion of triangle width) and eventually the triangle objective at 1.2115.” GBP/USD crashed 2 days after the pattern breakdown and reached its pattern objective in the process. Given the measurement, the rate could stabilize.
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