Get started

Fxanalysis

Danger ahead, once again, for Pound?After its recovery state before, during, and after the Brexit implementation, Pound was able to outperform several of its forex pair including the dollar -- being able to rise, and stay, above the 200sma, a long-term trend indicator. After the huge sell-off on the Pound, GBPUSD visited a near-term support in a day. Considering it is difficult to look for signals on a daily basis, I will be looking at the 4-hour chart for possible entries; whether it would form a nicely formed bullish pin bar (long-tailed) at the near-term support. However, if prices do fall below the near-term support, prices will revisit the key support seen around 1.257.
by bearvsbullmarket