Select Page

PAIR: GBPUSD

BIAS: BULLISH

TF: 1D

GBPUSD is currently trading within the descending channel structure formed on the daily tf since 20th September. On 19th Jan 2019 the lower level of this channel was touched and rejected strongly, technically this signals us that Gu should continue its bull run to the top of the channel around 1.30 area.

The outcome of the BREXIT deal vote in 5 days will determine our current bias, If the vote goes in Theresa’s favour we should expect a strong pound (bullish). If the vote doesn’t we should expect a weak pound ( bearish)