BRITISH POUND/US DOLLAR
Consolidating very neatly in what might be a pennant formation and momentum is very close to this year’s most bullish reading. Also keep an eye on EUR/GBP where a weekly close below £0.8300 completes a complex head and shoulders top.
SHORT TERM TRADER: Small long at 1.2785; stop below 1.2500. Target 1.3200.
POSITION TAKER: Looking to go long on a weekly close above 1.2900.
| SUPPORT | RESISTANCE |
| 1.2800 | 1.2860 |
| 1.2770 | 1.2905 |
| 1.2715 | 1.3000 |
| 1.2600 | 1.3040 |
