The pound reverThe pound reversed below the new support level at $1.53, warning of a bull trap.
Expect another test of $1.48.
Recovery above $1.53, however, would signal a rally to $1.60, confirmed if the declining trendline is broken.
"P&F
GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO
Data 2.1161 - 1.3502
~ 91 Month ~ 2797 Day
Database 2000 records 1.52649 (Last Close)
2002-09-02 00~00
2010-04-30 00~00 (GMT+01:00) Paris
BJF Trading Group chart"
BJF-Trading-Group_Excel_Chart