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Not the bottom yet on the GBP/USD

Posted on September 2, 2008 at 16:46 in Uncategorized by Pierre Charlebois

Late last week I wrote that a bottom could be forming on the GBP/USD. This turned out not to be the case. In fact what appeared to be an ending diagonal has turned out to be a leading one.

So, I would expect more downside looking for a bottom between here and the $1.75 area. Be patient and wait for a good indication the reversal has started as this should be obvious when it happens.

Good trading.

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