British Pound Technical Outlook

Published March 18th, 2008 - 08:41 GMT
Al Bawaba
Al Bawaba

The rally from 1.9361 is wave C within the A-B-C advance from 1.9337.  Wave C should divide into 5 waves and 5 waves can be counted from 1.9361. 



As such, a major top may be in place at 2.0396.  Short term potential resistance is at 2.0222 (61.8% of 2.0396-1.9941).