FX:GBPUSD British Pound/U.S. Dollar
On the weekly chart, we can see two falling - Blue and red.
- Note that blue was breached quite a few times on day end closing basis, but on the weekly closing basis the resistance stayed intact.
- However, the breakout may happen this week. Popular opinion is that Uk staying in EU would boost Pound and gilt yields and vice versa.
- Either we would have a clear breakout or a failure which would indicate sell-off.