GBP/USD Classical Technical Report 04.06
GBP/USD: Failure to establish any fresh momentum following the break above 1.6000, followed by an aggressive bearish reversal now suggests that the market could finally be looking to carve a top in favor of a more significant decline over the coming sessions. Look for a break and close below next support at 1.5830 to reaffirm outlook, while back above 1.6065 would be required to negate.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email email@example.com. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.