GBPUSD AT MASSIVE LEVEL

GBPUSD AT MASSIVE LEVEL

The GBPUSD has hit a massive level (previous base right at the 1.33 inside a reversal pattern. The increase in QE by the BoE remains our main bearish factor but constant Brexit negotiation news might bring some volatility into this market.

Should the Pound break our key levels against the USD we could see price drop sharply to the bottom of the current structure around 1.2950 in the short term.

The very choppy price action on the GBPUSD from 1.2950 to 1.33 level indicates a pullback move and not an impulsive move.

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Author : Orlando Gutierrez

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