GBPUSD 1.2500 OR 1.3000?
Well well what a week for the pound. Boris actually looking like he's pulling his finger out and cut the irrelevant and commences positives talks with IE Brexit associates that see the Pound rocket 500pips in two days!!
Now will the market stabilise and pull back? I think so, but when? currently I have a monthly key level and a pink weekly trend line at 1.27000 where we saw price get held. We are yet to see any bearish signals on a higher timeframe so there could be further room for a more upside to a next key level of 1.3000
Now with the EU summit taking place towards the end on the up and coming week ahead we need to keep our whits about the market ahead. Sticking toy technical thoughts I would like to see another reaction of 1.2700 and a retracement with high timeframe resistance holding strong. with 1.2500 being a fibonacci retaracement zone is see this as a great short opportunity
Now will the market stabilise and pull back? I think so, but when? currently I have a monthly key level and a pink weekly trend line at 1.27000 where we saw price get held. We are yet to see any bearish signals on a higher timeframe so there could be further room for a more upside to a next key level of 1.3000
Now with the EU summit taking place towards the end on the up and coming week ahead we need to keep our whits about the market ahead. Sticking toy technical thoughts I would like to see another reaction of 1.2700 and a retracement with high timeframe resistance holding strong. with 1.2500 being a fibonacci retaracement zone is see this as a great short opportunity
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.