Trading news

GBP/USD interim trend changed to bullish



USD strength was witnessed over the Asia session earlier today as the FBI cleared Clinton on the email issue. However, the GBPUSD has been bought on dips as the trend switched from intra week bearish to intraday bullish after UK court ruled against Brexit. However market is totally US election driven and will be even more volatile this whole week.
Technically POC zone (EMA89, trend line, L5, ATR bottom) 1.2380-1.2400 could reject the price towards 1.2456, 1.2485 and 1.2540 as long as the price is above bullish order block 1.2353 (purple rectangle). Ideally for a continuation look for POC rejection and close above descending trend line. If the price gets below 1.2350 sentiment will be bearish again and the pound could target 1.2300 and 1.2230 again.

Monday, 07 Nov, 2016 / 11:57

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Source : http://www.admiralmarkets.com/analytics/technical-analysis/

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