Prepared by Jamie Saettele, CMT
The GBPUSD has reached its 16400 objective and more specifically the 100% extension of the rally from 15778, at 16418. With the decline from 16745 in 3 waves, there is potential for an extended advance from the current level that ends above 16745. Bullish structure is strong as long as price is above 16260. A drop below would shift focus to support at 16191.