FxWirePro: GBP/USD trades lower on Theresa May signals Hard Brexit, good to sell on rallies
Sterling breaks the low made on Sep 23rd after Prime Minister Theresa May said the UK will trigger Article 50 before the end of March 2017. This shows that U.K will officially leave the EU in Apr 2019. GBP/USD has declin…
Sterling breaks the low made on Sep 23rd after Prime Minister Theresa May said the UK will trigger Article 50 before the end of March 2017.
This shows that U.K will officially leave the EU in Apr 2019.
GBP/USD has declined till 1.29053 after making a high of 1.30580 on Friday. The pair is struggling to close above 14-day MA. Any break above 14- day MA (1.3075) confirms minor bullishness, a jump till 1.3120/1.3150 (21- day MA) is possible.
On the lower side, any break below 1.29000 will drag the pair further down till 1.2865/1.2800.
It is good to sell on rallies around 1.2900 with SL around 1.2960 for the TP of 1.2800/1.2780
