The pound is back on the bull trend, after it broke all major resistance apart from the 1.267 one, after it filled its 1.5% gap.
Not breaking that resistance, being overbought, with declining volume and with big gap from the Moving average, my only potentially good trade would be to go long around 1.256 with a 2:1 R/R.
Good news came out of the UK this week, but there is a lot more to come both from the UK and US next week, which will probably create a lot of volatility.
Also, the US dollar is getting close to strong support and looks like it might reverse to the upside, taking away all Pound bullishness.
Not breaking that resistance, being overbought, with declining volume and with big gap from the Moving average, my only potentially good trade would be to go long around 1.256 with a 2:1 R/R.
Good news came out of the UK this week, but there is a lot more to come both from the UK and US next week, which will probably create a lot of volatility.
Also, the US dollar is getting close to strong support and looks like it might reverse to the upside, taking away all Pound bullishness.