03 December, 2008
British Pound Technical Outlook
The rally from 1.4554 is probably wave 4 of (3) (within a 5 wave decline from 2.1160).
Resistance does not begin until 1.60 and there is potential for a move back to 1.67 (38.2% Fibonacci and October 30 high). 1.4554 should remain intact if a larger rally (even if just corrective) has started.
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