GBPUSD | Looking strong leading up to Brexit
As Brexit appears to enter its final stage, Cable is looking ready to take on all-comers.
Starting the month at just under 1.2300, the pair now trades above 1.2800 - holding a 500 pip gain currently.
Of course the right question to ask is where to now?
My bullish bias remains solidly intact above 1.2750. I'm still a bull above 1.2550; only closes below the latter would turn me short on the pair.
However, we're probably in for a rough ride. I think a spike down to 1.2550 is extremely likely. I will be looking for signs of bulls stepping in at that level to join in a long recovery.
Starting the month at just under 1.2300, the pair now trades above 1.2800 - holding a 500 pip gain currently.
Of course the right question to ask is where to now?
My bullish bias remains solidly intact above 1.2750. I'm still a bull above 1.2550; only closes below the latter would turn me short on the pair.
However, we're probably in for a rough ride. I think a spike down to 1.2550 is extremely likely. I will be looking for signs of bulls stepping in at that level to join in a long recovery.
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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.