GBPUSD in a consolidation level
The Dollar has been stronger against the Pounds in the past weeks. Fundamentally, this has been due to UK's on and off Brexit deal which has placed the currency in an unstable position. On the other hand, Trump imposition of tariffs and trade wars against major economies has seen the US dollar gain more strength. FED increasing interest rates means more investments into US bonds by larger corporations and hedge funds. All accounting for the strength in the Pounds.
On the Technical level, Price actions have formed a slowpy trend downwards...In a shape of a "stair case"..clearly establishing support and resistance levels as well and consilidation levels. Though there have been many fake outs to lure retail traders out of their position, the indication remains clear that the Pounds is weak against the dollar and price is expected to go further down as indicated.
On the Technical level, Price actions have formed a slowpy trend downwards...In a shape of a "stair case"..clearly establishing support and resistance levels as well and consilidation levels. Though there have been many fake outs to lure retail traders out of their position, the indication remains clear that the Pounds is weak against the dollar and price is expected to go further down as indicated.
Comentário:
(All accounting for strenth in the Dollar***)