The Pound
versus the Dollar has been very volatile during this Tuesday’s session. At the
start of the session, the pair rallies and breaks above the 1.4700 level, but
then it drops rapidly towards the 55 day EMA, purple line, around the 1.4454
level. The 55 day EMA may act as a support and the pair may try to go back up
since it has had a slight bullish trend. But the 200 day EMA, blue line, around
the 1.4623 level may act as a resistance in case the price visits that zone. To
the downside, if the pair breaks below the 55 day EMA, then the 1.4400 level
may act as a support.
GBP/USD is being squeezed by the two moving averages the 55 and the 200.
ReplyDeleteThe chance of Brexit is scoring today at 19%.
ReplyDeleteConsidering the current Poll score, Britain will remain and the British Pound shall benefit.
The move to the downside continues.
ReplyDeleteIt's still testing 1.4400, but I think it will break below that level.
ReplyDeleteExcellent analysis!
ReplyDeleteGreat daily note, thank you.
ReplyDeleteInteresting info, thanks.
ReplyDeleteGood job with your post.
ReplyDelete