$GBPUSD pops, fills the gap, and bounces

FX:GBPUSD   British Pound / U.S. Dollar
Like a play from a playbook the GBP/USD is exhibiting a classic bullish activity. Pop on bullish news (US fiscal cliff averted), blow through resistance, sell off, find support, and bounce from there. On 12/27 the Pound put in a higher low but needed some momentum to get through $1.62 resistance. The news flow was sufficient to get the momentum going and the price action says higher prices are ahead.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.