The GBPUSD followed it script to a tee last week. The pair traded within a narrow range ahead of Jackson Hole contained by the Fibs from the May decline. To end the week the cross is resting near the top of its current range at the .618 Fib at 1.5904. Next week is the beginning of a new month and it will be interesting to see if a new trend will emerge. Resistance now begins at the ascending trend line that has guided the pair higher over the last month at 1.5820. Any move down to this level could find buyers. A break of this level into the beginning of the month could indicate a trend shift in the pair.
Sup 1.5820 ( Trend Line Support)
Keane Plan...Watching for a bounce or break of the trend line around 1.5790.
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