GBPUSD: Is GBP rally on Brexit optimism overdone?
We were insisting on buying GBP against all major and minor currencies. Our reasons were quite clear.
Below attached, you can read our GBP futures forecast published on Nov 24th.
To be much simpler and clear: BoE wants and needs strong Sterling. Reasons were well explained in the below article.
Now the short term question: Is the GBP rally on Brexit Optimism is overdone?
Shark Pattern, RSI divergence signals indicate a bearish correction shorter-term as described on the chart.
Our first midterm target is 1.34500 and year-end is above 1.36000.
Have a nice weekend!
Below attached, you can read our GBP futures forecast published on Nov 24th.
To be much simpler and clear: BoE wants and needs strong Sterling. Reasons were well explained in the below article.
Now the short term question: Is the GBP rally on Brexit Optimism is overdone?
Shark Pattern, RSI divergence signals indicate a bearish correction shorter-term as described on the chart.
Our first midterm target is 1.34500 and year-end is above 1.36000.
Have a nice weekend!
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Wedge is broken.
Above SMA 200