Fundamentally the pound is weakening. GDP is falling, the economy is having a rough time during corona virus and a potential second nation wide lockdown.
Technically we can see an ascending channel on H4 but more interestingly we can see a bullish flag on H1.
It broke out of the ascending channel but came straight back in after failing the re-test which is why we MUST wait for a re-test.
MAD buy signal on H1 is needed before entry.
Technically we can see an ascending channel on H4 but more interestingly we can see a bullish flag on H1.
It broke out of the ascending channel but came straight back in after failing the re-test which is why we MUST wait for a re-test.
MAD buy signal on H1 is needed before entry.
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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.