British Pound Technical Outlook

Published March 3rd, 2008 - 08:31 GMT
Al Bawaba
Al Bawaba

Cable still has a few hundred pips of upside potential.  A triangle has formed since the 1.9970 high and is viewed as wave 4 within the 5 wave advance from 1.9361 (which itself is a C wave).  



As such, a terminal thrust above 1.9970 probably occurs this week.  Resistance begins at 2.0033.  Risk on longs can be moved to 1.9807