Nicole Elliott, Technical Analyst & Private Investor, says the British Pound is still one of the most hated currencies… despite Tuesday’s sharp rally to 1.29 levels. Elliott says the Puts are more expensive than calls, which suggests the market remains bearish on the currency.
GBP/USD – Close above 1.28 would be bullish
EUR/GBP – Head and Shoulders pattern
FTSE 100 – Head and Shoulders pattern
Watch the full segment for more info on the key levels to watch out for on the EUR/GBP and FTSE 100 chart.