GBP Update - Temporary exhaustion?
Quick update on GBP pairs.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in anticipation of a correction.
There are political risks to trading GBP as we edge closer to the Brexit deadline. The rhetoric seems to be improving, although there has been no breakthrough in discussions just yet.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in anticipation of a correction.
There are political risks to trading GBP as we edge closer to the Brexit deadline. The rhetoric seems to be improving, although there has been no breakthrough in discussions just yet.
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