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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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.