The Sterling keeps depreciating against its major competitor - the US Dollar. Currently, the GBP/USD is trading at 1.3937 and has not yet decided where it wants to go. On one hand, we have the rumors that a possible Brexit would further depreciate the Sterling and although only a rumor, traders and investors are bearish about the future of GBP.
On the other hand, the pair is trading at 9-year old bottom and a correction is waiting to take place as soon as possible.
The faith of GBP/USD is still not clear. First support is seen at the lowest low of 1.3334, while first resistance is the level of 1.4052.
Chart: GBP/USD H4
The pair has been rejected from 1.4000 level.
ReplyDeleteThank you for the analysis.
ReplyDeleteExcellent analysis, thank you.
ReplyDeleteCable is in a short term low.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteThe downtrend looks intact.
ReplyDeleteGreat post.
ReplyDeleteGreat review!
ReplyDeleteGood reporting, excellent.
ReplyDelete