GBPUSD: Further upside anticipated pending clear continuation
- GBPUSD has now completed the larger descending channel pattern to the downside following an impulsive leg up on the LTFs, we are looking to identify a clear continuation pattern prior to taking advantage of a further bullish leg.
- Larger pattern structurally, lends itself to substantial upside albeit momentum with stands following initial break
- On the macro front, British employers have offered staff the biggest pay rises in 10 ten years in early 2019, a survey of companies suggested on Thursday, adding to signs that historically low unemployment is beginning to translate into faster wage growth. Brexit HoC amendment uncertainty remains amidst current market sentiment.
- Our bias remains structurally bullish pending clear continuation and momentum to the upside.
- Larger pattern structurally, lends itself to substantial upside albeit momentum with stands following initial break
- On the macro front, British employers have offered staff the biggest pay rises in 10 ten years in early 2019, a survey of companies suggested on Thursday, adding to signs that historically low unemployment is beginning to translate into faster wage growth. Brexit HoC amendment uncertainty remains amidst current market sentiment.
- Our bias remains structurally bullish pending clear continuation and momentum to the upside.