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.