British Pound Technical Outlook

We maintain that either a flat or triangle is unfolding.

“Since 1.9337 (the 1/22 low), the GBPUSD is tracing out either a flat or a triangle as large wave B within an A-B-C correction from 2.1160.” In the case of a flat, Cable could drop below 1.9337 before rallying in wave C. If a triangle is unfolding, then 1.9364 will hold. Keep these levels in mind if you are trading the GBPUSD.

Visit our recently updated British Pound Currency Room for specific resources geared towards this currency.