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Forex pairs in this Article » GBP/USD
Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Measured Target is Near 2009 High and 2005 Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-GBPUSD traded to its highest level since May 2011 today. As mentioned previously, “continued ranging is possible but today’s advance is consistent with a bull trend.”

-The first target on a break above 1.6667 is the measured objective from this year’s 1.6667-1.6251 range, at 1.7083. This is in line with the 2009 high at 1.7042.

-Support is seen at 1.6601.

LEVELS: 1.6510 1.6557 1.6601 | 1.6683 1.6746 1.6878

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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