The pound separated in the middle of Thursday's day, reaching the crucial level of 1.30. This is a territory that I have focused on for quite some time, and the way we have arrived there is an exceptionally negative sign. I am confident that the market will continue to see a big commotion in the UK, and that will obviously influence this pair.
The pound has exceeded the essential level of 1.30 in the middle of the trading session on Thursday, suggesting a facilitated deficiency since the retail agreements were considerably softer than anticipated. By appropriating that with the show that includes Teresa May and Brexit, it's hard to imagine that many people will bounce back and start with the pound for the time being.
I suppose that, in case we see opposition again at the 1.30 level of a rally, this match is probably from a bearish channel. In any case, in the event that we can change things and break the 1.31 level, that would be an exceptionally bullish sign.
This would most likely be linked to some kind of encouraging news coming out of the UK, which is crucial nowadays. I am confident that we are more likely to see antagonism around this mall, even though the US dollar is probably already overbought.
The maxima of the week
This level of value has been completed as a remarkable aid to avoid a real decrease in the value estimate and now that this pair has begun to test this value and moved below 1.30550 it is an unambiguous negative sign. In fact, even with Dollar taking a cautious stance after the comment of the president of the United States Donald Trump.
Brexit's problems continue to weigh on this pair and if the value moves below 1.3000, we can expect a lasting decrease in the match to continue with more than 100 pips effectively. The GBP / USD has been given a life preserver that recently flew by 1.30 the figure and up to 1.3049, surpassing the SMA from 21 hours to 1.3032 after Trump's statements at a meeting.
Currently, the pound falls more than 2% from the highs of the week, almost 1.3290, and the bulls retreat completely after neglecting the recovery of the important specialized level of 1.3300, with the offer of short in the weakened cash game as a triplet of key monetary information for the United Kingdom was neglected in light of the wishes of the mid-market.