GBP/USD Fundamentals and Technicals pointing to Long Opportunity
We have recently broken above the downtrend line. I think the 1.30 price level will start to offer a strong support, just as the previous downtrend line will. I will be looking for a Take Profit at the 1.35 level.
If the Brits get a decent deal - which is possible as the EU are beginning to see the negative impacts of a bad Brexit deal or even worse no deal - you may see traders picking up the Sterling for a major move higher.
I believe that soon we will get some type of resolution to the Brexit negotiations, seeing as Theresa May has hinted a potential deal with Brussels is close by, This will be reason enough for the British pound to rally.
Remember - Losses can exceed your initial investment, so trade carefully with the use of risk management. Good luck!
If the Brits get a decent deal - which is possible as the EU are beginning to see the negative impacts of a bad Brexit deal or even worse no deal - you may see traders picking up the Sterling for a major move higher.
I believe that soon we will get some type of resolution to the Brexit negotiations, seeing as Theresa May has hinted a potential deal with Brussels is close by, This will be reason enough for the British pound to rally.
Remember - Losses can exceed your initial investment, so trade carefully with the use of risk management. Good luck!