GBP/USD Year Opening Range Holds as Support

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eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Year Opening Range Holds as Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-GBPUSD made a key reversal on 2/17. The pullback occurs after a push above the 2011 high and test of the best level since November 2009.

-A daily key reversal at the top of a multiyear range is not something to dismiss. Cable found support today below the 2/12 close. There may be resistance from the 2/17 close at 1.6711.

LEVELS: 1.6391 1.6536 1.6628 | 1.6678 1.6713 1.6800

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