however : I am positive about the sterling , If indeed the economy weakens we see a slowdown wich could also lead to lower -> increases the value of the currency.
Other scenario: Because of the cheap currency price foreign investors looking to invest in UK stocks increasing the demand for the sterling.
Strong Divergence between the and price chart shows an underlying strenght
On the hourly there is a pattern indicating a move to the upside wich makes a good entry
Price is at a strong support that has hold twice since 2001 and 2008 !
Target is not placed since were dealing with such a big time interval. Will depend on the Economic situation.
Stops set below the support range