FxWirePro: Buy GBP/USD in short-term targeting 1.338
The trend line provided key support, The trend line which provided support to the pound against USD since November last year has once again lent support this week around 1.3 area. And GBP/USD is now comfortably higher tr…
The trend line which provided support to the pound against USD since November last year has once again lent support this week around 1.3 area. And GBP/USD is now comfortably higher trading at 1.318.
The positive Brexit news that the UK Prime Minister Theresa May, the leader of the Conservative party will work with opposition leader Jeremy Corbyn to seal an agreement before the deadline expires on April 12th.
Our calculations suggest that the current bounce back/rally has much further to go, riding on the positive Brexit news and a weaker USD, which stalled its rally yesterday with an inverted hammer candle in the daily chart.
Trade idea:
GBP/USD is likely to retest resistance around 1.34 area, in the coming days, as long as the trend line support holds.
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