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PipPhenes
Feb 23, 2020 6:14 PM

GBPUSD Which Way? 

British Pound/U.S. DollarFXCM

Description

Our short was executed perfectly with 215+ pips locked in.

But now where is GPBUSD going?

If we take a look at BXY (GBP Strength Index) its rather unclear, we have a bias to say that GBP should fall with the brexit dealings.
Take DXY (USD Strength Index) however and we can see a clear path to weakness.

What we think could happen is a 2-5day drop down to the trendline. Followed by a significant surge up to the supply zone.
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