OANDA:GBPUSD   British Pound / U.S. Dollar
- Initial bias stays neutral this week first and some more consolidative trading could be seen.
- We have no interest in buying this pair, at least not until we see some type of major change in the world’s attitude and a move above the 50 day EMA . Simply fading rallies continues to work in the British pound, although you will need to be somewhat patient as the resiliency is something to behold. The 1.20 level is our target longer-term, but as we head into the Memorial Day weekend, it is likely that the liquidity issues may keep this thing somewhat quiet for the next several sessions.

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Nice analysis!
+1 Reply
GoldFxcc GoldCartel
@GoldCartel, Thank you!
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