GBP/USD Daily Chart" title="GBP/USD Daily Chart" width="712" height="552">
GBP/USD: 1.6332
Short-Term Trend: weak uptrend
Outlook: Contrary to our expectations the GBP rose to new highs for this leg, but then pulled back by the end of the week. So, we maintain our expectations for a sideways consolidation in the next few weeks. If that happens, this sideways consolidation will be considered a second (x) wave within the complex correction from the July 2013 low. And eventually we will see higher prices - toward 1.6600.
Strategy: Stand aside.