Category: GBPUSD

Cable “Git’r Done!”

June 23, 2010

GBPUSD made up over 700 pips since the turn day on June 6, 2010, a day called out by this site.

It has now broken upward out of the channel and is fighting resistance from a longer term downward channel. If price breaks clear of this resistance the next hurdle will be at 5050 and a clear break above will give room to attack 5160 which is a Gann resistance. Price has been very choppy going upwards in what looks like a double zigzag, but with price threatening to beak out of the channel we need to see if something else is happening.

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