Waiting for confirmation for the next move in direction
Seeing a very slow climb upwards. Can we break the major resistance ahead?
Waiting for the first move. Negative Brexit news will see a long downward fall with limited support. Positive news will see a slower move in the upwards direction.
We have seemingly reached a level where buyers would be attracted. It may be slow until the end of 2018 however I can see this point being a possible slow reversal.
Much of the movement depends largely on Brexit news as seen previously.
As the GU reaches the weekly support, a possible uptrend is looming. Should the bears take control and bring the prices below the weekly support, a further downtrend is expected for the week ahead. However should the bulls take control, we should see a nice uptrend providing there is no significant negative news from the Brexit negotiations.