Pound to Trend Higher
With all the uncertainty in the UK economy due to BREXIT with have seen a shape decline of the pound against the US during 2019, with a sudden surge in the last quarter of 2019.
What I see playing out is a cup and handle formation appearing in the chart as shown by the blue line in the chart.
All the pullbacks on low volume testing the 1.3000 level, we have a strong buy signal on the ADX, as D+ crosses D- above 20 with the SAR indicator giving us the go signal.
The OBV confirming the moves it has broken back above and retesting the 233 WMA.
All this I believe will lead to a stronger pound through 2020.
What I see playing out is a cup and handle formation appearing in the chart as shown by the blue line in the chart.
All the pullbacks on low volume testing the 1.3000 level, we have a strong buy signal on the ADX, as D+ crosses D- above 20 with the SAR indicator giving us the go signal.
The OBV confirming the moves it has broken back above and retesting the 233 WMA.
All this I believe will lead to a stronger pound through 2020.
Time is the only true currency...how will you spend yours and what value will you receive?
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