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Continuing higher

Continuing higher | 02 December 2013

02 December 2013, GBP/USD

GBP/USD has reached a high of 1.6440 but has pulled back this morning. It has reached support at 1.6400 this morning – a likely place for a rebound. The dominant short-term bull-trend is expected to resume and take the pair higher. The bullish count calculated using the column at the base of the pull-back on the 26th November, generates an upside target of 1.6680, which could eventually be reached, although a nearer-term target is at 1.6550, with confirmation coming from a re-break od 1.6440.
Continuing higher
Mark Satcher
Analyst of «FreshForex» company
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