Technical correction | 17 Octubre 2019
17 Octubre 2019, GBP/USD
GBPUSD trading plan:
The British currency has shown a strong bullish rally in the last five trading days. Investors opened long positions on expectations of the signing of the BREXIT, agreement between the United Kingdom and the European Union. There are some uncertainties since there is a lot to go through on BREXIT. For instance even if both EU and UK negotiators agree on terms it still has to go through the parliament. We are recommending closing long positions on the British currency. In this currency pair, a technical correction is overdue.
Trading recommendation: range 1.2720 -1.2805.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
