20 Mar 2015
SEB: GBP/USD rechecked the former triangle floor – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB views that GBP/USD might consolidate in the 1.4635-1.5155 range before resuming lower towards 1.40-area.
Key Quotes
“The Wednesday spring bottom at least led to a recheck (and validation?) of the previously broken B-wave triangle floor.”
“We should perhaps expect to see some further consolidation between the recent low point and the triangle floor i.e. within Wednesday’s range (1.4635-1.5155) before continuing the descent towards next the 1.40-area (long term key support).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The Wednesday spring bottom at least led to a recheck (and validation?) of the previously broken B-wave triangle floor.”
“We should perhaps expect to see some further consolidation between the recent low point and the triangle floor i.e. within Wednesday’s range (1.4635-1.5155) before continuing the descent towards next the 1.40-area (long term key support).”
This content has been provided under specific arrangement with eFXnews.