Since the beginning of the year the Pounds have been strong by expanding to latest highs made late 2022. This past week the pair is showing early signs of exhaustion and this could be due to a intermediate term reversal.
At the start of the year, when the Pound reversed at 1.18500 it has failed to come back down to find liquidity in the market, as this may also be one of the reasons why it is showing signs of exhaustion early in the year.
The possibility it that price will find liquidity above the 2023 highs go gather enough liquidity to then move below 1.20800, where the reversal initiated.
Opportunities will most likely present themselves in early February.
At the start of the year, when the Pound reversed at 1.18500 it has failed to come back down to find liquidity in the market, as this may also be one of the reasons why it is showing signs of exhaustion early in the year.
The possibility it that price will find liquidity above the 2023 highs go gather enough liquidity to then move below 1.20800, where the reversal initiated.
Opportunities will most likely present themselves in early February.