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.
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.
