Gu has pulled back into the previous monthly lows, anticipating a bullish move in accordance with current trend. Currently in good value demand zone for buys with price making higher lows on the lower timeframes. There is also bullish divergence on the 4h timeframe. Fundamentally the pound is strong with a new party winning the election causing optimism for growth. Long term targets being 1.31000 for the next upswing so long as price respects the low at 1.26200. A daily closure above 1.27000 will further validate buys.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.