British Pound Reverses at 15650 Resistance



Daily Bars
eliottWaves_gbp-usd_body_gbpusd.png, British Pound Reverses at 15650 Resistance

Prepared by Jamie Saettele

"For some time, I've favored the idea that a triangle is unfolding from the January 2009 low. If this is the case, then the GBPUSD should decline for months towards 15000 in wave d. A more bearish count is shown above." Risk on shorts can be moved to 15840 as a test of 15300 (September low) is awaited. 15580 and 15650 are resistance levels.

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