Michaeljacque

GBPUSD - Another test of the major resistance @ 1.4982/89

FX:GBPUSD   British Pound/U.S. Dollar
96 0 2
Buyers Aren't as Sold on the Pound as yet. Before Any major Bullish gains can continue the Rising wedge seen on the Hourly and the retracement levels stands in the way of bullish movements.In the bigger picture, price actions from 1.3503 ( 2009             low) are treated as consolidations to long term down trend from 2.1161 and should have completed at 1.7190. Fall from there should now target a new low below 1.3503 ( 2009             low)
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