British Pound Technical Outlook

Published July 7th, 2008 - 07:56 GMT
Al Bawaba
Al Bawaba

Sterling has carved out a massive distribution top and is in danger of taking our stop at 1.9583 support.



The price action looks decidedly bearish in the near term and the pair must find some support at these levels in order to stabilize  and maintain our bullish bias.

STRATEGY: Bullish, against 1.9583, target 1 at 2.0175, target 2 TBD