GBPUSD at crossroads

27 בספט׳ 2018

After a recent bull run fuelled by overdue technicals and "hopium" of Brexit deal the Fundamentals weigh heavily on the old cable and while on a 1D time frame we remain in the uptrend, lower time frames are signalling indecision. We are currently at a Pivot Point and this weeks GDP should act fuel for the bulls. My long term view is bullish with a target of 1.45 for the end of the year bearing in mind no disastrous Brexit deal which would be the least sensible option for everyone. As long as Bulls hold the 1.30 ares the bullish momentum will persist. When firmly established above 1.31 can look for a good Long position with a sensible SL and TP1 : 1.32 TP2 1.325 TP3 1.33