The British pound continues to grind sideways just above the 200-day exponential moving average and the previous resistance at the 1.2750 level. However,
The British pound continues to grind sideways just above the 200-day exponential moving average and the previous resistance at the 1.2750 level. However, this candle looks a little bit more bullish than the others, and therefore I think a break above the top of this candle should send this market much higher. I believe that the market will eventually find its way to the 1.3450 level above, and the dips should continue to be well supported. I have no interest in shorting, I believe that the British pound has changed its overall trend.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
