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Post Brexit, Pound corrected sharply and now for the past one month it's range bound. I am seeing a lot of accumulation at this point. I am bullish on this pair. Expecting pound to test around 1.25 and 1.27 in the nearest future. How ever, We should keep an eye on the NFP outcome.
NagarajaAdiga's Blog
Pound analysis-looks tuning bullish
It looks like gbp/usd is all set to turn bullish. The current chart pattern shows a inverted Head and shoulder pattern with 1.38 zone as the head level and the shoulders are seen at 1.4060 level. however, The Triangle formation as marked shows there is lesser bounce when ever it touched 1.4060 zone. IT has to break out off 1.427 decisively on a daily close can take it ultimate target of about 1.52 zone. it may how ever face resistance around 1.46 and 1.4850 zone on the way up. The current stop f…