Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The GBUSD reversed sharply from just under the 4/4 low. Despite the reversal, a new low isn’t out of the question from current levels in order to complete 5 waves down from 1.5321 (price would then be at risk of a recovery back to 1.5321). If price rallies from above the low, then would begin looking for a top at 15260-1.5320.
FOREX Trading Strategy: Moved to flat and looking to resell higher…probably above 1.5260.
LEVELS: 1.4901 1.5012 1.5053 1.5160 1.5260 1.5320