GBPUSD Short Term Correction Nears an End

Published April 7th, 2009 - 07:13 GMT
Al Bawaba
Al Bawaba

In the Daily Technicals this morning, I mentioned the possibility of an exapnded flat unfolding in GBPUSD, which would end with a push above 1.4775.  The pair just pushed through that level, so a flat may be complete (or very close to complete).  As long as price is below 1.4960, favor the downside in wave d of at triangle to 1.40 or so.