Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The GBPUSD made easy work of 16065 and is nearing the 61.8% retracement of the decline from 16309 at 16123. Channel resistance comes in slightly higher on Tuesday, at about 16153, which is just below the November 1 high at 16174.
FOREX Trading Strategy: “Like the EURUSD, I’d like to be short but higher levels may be registered before the turn lower.” I’m on the lookout for a top and reversal.
LEVELS: 15989 16037 16065 16123 16174 16227