Continuing higher; all targets met | 18 October 2013
18 October 2013, GBP/USD
The GBP/USD has risen swiftly, surpassing its target at 1.61025 and probably reversing the short-term down-trend, although not definitively. All main targets on the larger 0.003 box chart have been met, indicating the possibility the pair may be over stretched to the upside, however, the absence of any signs of weakness or reversal we must consider a continuation higher as the most likely outcome, probably continuing higher to match the 1.62525 highs.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
