GBPUSD: the Road to 165.00
Given the Double Bottom in place at approx 135.00 and the recent break-out above 150.00 GBPUSD appears to be consolidating its gains, putting it in a position to achieve this formations objective at 165.00 based on a 100% extension of the height of the Double Bottom as extrapolated from the January low to the February high. Current support is in place below the market at approx 148.00 and the Monthly Pivot Point just above 147.00. With support down to approx 144.00 we would need to see a close below that level before any serious technical damage would be done to this current up-trend
Jay
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