GBP/USD: Dominant Downtrend Resuming

 | Mar 06, 2015 06:47AM ET


Cable has broken out of a rising wedge formation and resumed its dominant down-trend. It is now established in the new trend, running lower at a rapid pace, and expected to continue in this fashion.


A break below the current day lows at 1.5176 would probably confirm an extension down to the next major support level at the S1 Monthly Pivot at 1.5100.