It looks like the pound dollar needs to do some more price discovery to the downside before finding the much needed buying to start the next uptrend. A short rebound to retest 1.37 is likely to come early in the week before the market decides if it wants to take the plunge at these levels.
BEAR CASE
The 1.34 area is looking more and more likely to happen for...
Hi Traders,
hope you all had a profitable trading Wednesday, let's continue today.
Take a look at GBP/USD. Price has clearly bounced from Support line and now is heading up as Bulls take control.
Let us know what you think and don't forget to follow us for more ideas :)
Good luck !
The recent push ups came from rumours about the GB vote which takes place at 12th December. According to this, we see a super bullish Pound which can easily hit the first target at 1.33167
The next targets would be around 1.35 and the last one at 1.36841
Anyway, GBP is a high risk currency at the moment, because with every news about the BREXIT the Pound moves...
