GBP USD Crosses Over Major 50% Level

The GBP USD is on the bull side of a major 50% level.

The GBP USD crossed to the bull side of a major 50% level at 1.6085.  This indicates great strength.  The next upside level is 1.6694.

The 50% level at 1.6085 now must hold as support.  Additional support is coming from the an uptrending Gann Angle at 1.5933.

Click for Full Image

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More