British Pound Technical Outlook

Published March 26th, 2009 - 06:05 GMT
Al Bawaba
Al Bawaba

Bigger picture, expectations are for a c wave to end above 1.50.  The path that price takes to get there I am unsure of however.  One possibility is that the GBPUSD exceeds 1.50 while remaining above 1.4390 in what most likely ends up as a 5th wave diagonal.  The implications from a short term head and shoulders pattern destroy my confidence in the bullish count though.