British Pound Technical Outlook

Published April 27th, 2009 - 06:20 GMT
Al Bawaba
Al Bawaba

An expanded flat is complete and the decline from 1.4776 is an impulse, strongly suggesting that the path of least resistance for Cable is lower.  A small second wave may be complete at 1.4632.  Favor the downside against 1.4776 in anticipation of a break below 1.35.