GBPUSD is on the verge of making a Big Breakout. This move can turn out be a game changer for GU major trend reversal is on the cards. GU is breaking out of downward sloping trend line which is there since Sep 2015. First Target is around 1.30 which I think it will easily cross & after that move as far as 1.34.
After Brexit Decision GBP crashed vertically managed to halt @ 1.19048 and lost momentum, It was in the range of 1.27600 to 120850 in last 7 months horizon. Fundamental condition still remains choppy !! Volumes improved in recent past days, Open interest raised by 3.6 %. Expect price to trade in the range of 1.2800 to 1.31750 in coming days, Shorter term traders ...
a clear divergence have been formed between market trend MACD indicator which indicates a strong reversal of trend as market has been consolidated for a long time on pivot point any break could cause a good fall for sterling with a target of 1.2778,1.2699 and 1.2564 alternate scenario any break above 1.2989 may continue the buy trend Happy Trading
Watching for GBPUSD to settle above 1.2400. Next the pair will test 1.2688 level near term and then break above that toward 1.2900 - 1.3000 Sorry guys for being away for 4 months as I was working on my new book release "Trade Forex with Confidence". Thanks for your patience and support. http://amzn.to/2nKBrXT