GBPUSD is not a good choice to trade these days. Pound is waiting for the result of Brexit. Obviously there are two possibilities for it to go, up or down . Technically, before any news come out, GBPUSD will move toward the nearest resistance blue zone. Anything could happen after that , thats why we have one red arrow and one blue arrow. Pound is possible to test 1.2-1.33 EVEN THOUGH WEEKLY CHART IS SHOWING US BULLISH .
@Boon2, alright , so without consideration of Brexit , you think Pound will bounce up no matter what happen ?
Boon2
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@FUNTRADER-Vera, I have no interest for the news, everything that's known about the market is priced into the market. Technically wave C has broken above wave A and that's all price need's to do to be a complete structure, where will wave C up end no one knows but i'm long at BE so whatever happens in the news can't affect me in a negative way.