As we can See, the pound has been still trading on highs above the Bullish trend line for the past months, We saw a retracement for the highs back towards the the 50 percent fibonacci levels from the highs set last week. The pound will be most likely testing the 61.8 level at the the price range of 1.3830-1.3850 , A bounce back at the following level and price range will resume the bullish trend and we might even expect new highs on the table. on the contrary, a break through the following levels will create a major resistance area at the 1.3830-1.3850 the pound will be settling in a resting zone between the following levels and the major supports at 1.35. Further fundamentals will decide wether the pound will continue the rally or bounce back in to the expected resting zone.
Im currently unbiased on the pounds but favorably looking in to an initial short movement .
A follow would be highly appreciated.
Im currently unbiased on the pounds but favorably looking in to an initial short movement .
A follow would be highly appreciated.