My contrarian frame of mind has me thinking that GBP is working on a major low. Monthly and weekly charts below.
Two resistance zones to watch
I've been asked for an update on GBP and since the equity indices should quiet down over the next 1.5 hours till the FOMC statement, think I have enough time to get this done. Overall think GBP, like many of the major USD crosses, has spent the last year correcting up in a wave [iv] and should be close to pressing lower in a wave [v] over the next 18 months.
Happy Thanksgiving! I thought I would see if I can sneak in a little analysis before slipping into a turkey induced coma.