Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The GBPUSD continues to hold up at the 4 year trendline. It’s possible that the decline from the January high composes 5 waves with wave 5 serving as a truncation (a truncation means that the price extreme of 5 doesn’t extend beyond the price extreme of 3). If the interpretation is correct, then price will return to 15878.
FOREX Trading Strategy: Flat
LEVELS: 15577 15636 15693 15836 15878 15955