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Flash: GBP/USD completing a cycle of gains off July’s 1.4815 low - ANZ

FXstreet.com (Barcelona) – GBP/USD looks set to end a period of sustained gains off July’s 1.4815 low, notes Tim Riddell Head of Global Markets Research at ANZ.

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“Although recent gyrating in the 1.5850-1.6200 area will be seen as forming a base for pronounced gains and the potential for measured moves towards 1.6750-75, or even 1.7075, wave counts and weekly momentum profiles could counter this and actually suggest that GBP is completing a cycle of gains off July’s 1.4815 low.”

“Unless gains become decidedly more dynamic, any faltering on a push towards 1.6380 would be seen as increasing the end cycle …read more