British Pound Will Move Up Against the U.S. Dollar

FX:GBPUSD   British Pound / U.S. Dollar
The British Pound has been challenging strong resistance with increasing volume. Looking at the chart long term, weekly time frame, I am getting signals telling me that it might move up against the U.S. Dollar, here is why:

  • Now trading above EMA10 and EMA50.
  • Hitting higher lows since October 2018.
  • Increasing bullish volume.
  • Bullish RSI.
  • MACD trending up and entering the bullish zone.

Looking at the U.S. indexes, such as the SPX, can support the findings on this chart.

You can see my latest analysis here:
Russell2000 (RUT):
Conditions for change: If the October 2018 low is taken out, then this analysis would become invalid and a new one is needed.

Feel free to hit like to show your support.

Thanks a lot for reading.


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