British Pound Technical Outlook

I maintain that a multi-month rally in the GBPUSD is likely underway, possibly to as high as the mid 1.60s.

Near term, price appears ready to accelerate off of the short term support line. Staying above 1.4812 keeps the trend up. With 5 waves potentially nearing completion from there, a correction back to at least former support at 1.52 may begin soon.

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