British Pound Technical Outlook

Published March 14th, 2008 - 07:55 GMT
Al Bawaba
Al Bawaba

At this point, there are 3 levels that could produce a significant top; the 61.8% of 2.1160-1.9337 at 2.0463, the 161.8% extension of wave 1 of C at 2.0663 and the 78.6% of 2.1160-1.9337 at 2.0770. 



Watch for a reversal near these levels.  Very short term traders can look to trade from the long side as long as price is above 2.0213.