Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Bounces from Month Open

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-GBPUSD has pulled back from the high and the decline from Thursday’s high is impulsive (5 waves). It is possible that an important top has formed (don’t forget about COT being extreme). Weakness below 1.6565 would make a strong case for a sharp decline.

-1.6783 is now possible resistance.

LEVELS: 1.6565 1.6620 1.6660 | 1.6753 1.6783 1.6822

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.


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