In the last issue of the TMV Swing Trade Report, I talked about the recent British pound price action and the possible bullish pattern forming over the past few days. The market had traded to a high of 1.5130, just missing my initial 1.5155 target objective identified by the reaction line. The market ended up backing off and closing the long position for a nice gain. However, the pound went on to post two lower closes as it dropped down into the July 1st reversal date. (A market trading lower into a reversal date will typically set up bullish reversal.) Although we had just completed a nice trade, I suggested the two-day pullback could form a new bullish reaction swing and trigger a new buy signal. It did! The pound opened slightly lower on July 1st and dropped down to the 20-day EMA. The support held and the market quickly reversed and traded sharply higher, confirming the bullish reaction swing as it passed 1.5080. The new reverse/forward count projects n two new reversal dates for July 7th and July 13 with a potential target objectives above the 1.5400 level