We are not sure if the upper end of the 1.9000-1.9550 channel will be broken, but it is a risk this time around as the GBP is starting to look constructive against other pairs as well.
The EURGBP is about to trigger a double top pattern as we test the 88% retracement on the daily chart.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
The EURGBP has been held hostage by the resistance at the 61.8% retracement at .8930 which broke today.
The GBPUSD looks to be in a long term consolidation that may carry us through December as the UK parliament will vote on the BREXIT deal ahead of the Christmas holiday.