British Pound Technical Outlook

Published February 27th, 2008 - 07:54 GMT
Al Bawaba
Al Bawaba

Similar to the EURUSD, the rally to 1.9970 may have completed wave iii of larger C (within the A-B-C from 1.9337).  Support may be strong at 1.9825. 



If this level gives way, then look for support at 1.9750 (61.8% of 1.9615-1.9970).  Like the EURUSD, there is additional upside potential.