On the
daily chart of the GBP/USD we can see that the pair has dropped to the 1.3000
zone where it finds some temporary support. The Pound has been weakening amid
the uncertainty surrounding the Brexit process, which could end up being
dramatic for the British economy. Besides the Brexit effects, the GBP/USD has
also been pressured by strength on the US Dollar, which has been supported by
the possibility of another two rate hikes before the end of the year. In case
of a bullish bounce from the 1.3000 level, the GBP/USD may retrace to the
1.3300 level where we can find the 55 day EMA. If the pair continues lower and
breaks below the 1.3000 level, then its next support could be the 1.2900 level.
Taking note on these levels.
ReplyDeleteBut is still making lower lows.
ReplyDeleteHelpful post.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteIt may reach 1.3170.
ReplyDeleteIt may be time for some correction.
ReplyDeleteGood review!
ReplyDeleteVery helpful article.
ReplyDeletePounds pick up a pace.
ReplyDelete