The pair has been on a steep upward trend on hopes for a rather good BREXIT. The pair is currently phasic resistance at the psychological line of 1.32.
The 31 & 50 have crossed on the 4hr timeframe showing a further bullish movement and and the 0.5 fib around the 1.3130 area could be a significant support for any downward attempt.
My personal view is that the pair will claim higher highs around the 800 EMA if it breaks above the 1.32 and 1.33 psychological lines
if it fails to do so door could open for the 200 EMA around 1.3040
News for next week:
** BOE Gov Carney Speaks
Some fundamentals:
The pair hits 3 month highs as US dollar tumbles, if the downward trend of US dollar continues that will push the pair for more highs
- Bad news on Monday may push the pound to a downward trend
The 31 & 50 have crossed on the 4hr timeframe showing a further bullish movement and and the 0.5 fib around the 1.3130 area could be a significant support for any downward attempt.
My personal view is that the pair will claim higher highs around the 800 EMA if it breaks above the 1.32 and 1.33 psychological lines
if it fails to do so door could open for the 200 EMA around 1.3040
News for next week:
** BOE Gov Carney Speaks
Some fundamentals:
The pair hits 3 month highs as US dollar tumbles, if the downward trend of US dollar continues that will push the pair for more highs
- Bad news on Monday may push the pound to a downward trend