Pound Dollar Forecast

The pound has been correcting for the last 4 months after the Brexit turmoil.
I don't trade fundamentals but given that the negative effects of Brexit are "priced in" I expect the pound to recover this year.

This is potentially backed up by the charts -
I see the channel line as a potential bottom so price should rise from here.
It could possibly complete a C wave before starting a new upward impulse. We also have a double bottom on this daily chart (for those of you who trade them)
Lets see what transpires over the coming months.

All forecasts will be updated as they develop - remember to follow to receive them.

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

Kommentera:

1H chart

Kommentera:

This now looks like an expanding flat - we are currently looking for the bottom. Wait for a long entry set up before opening a position

Kommentera:

A nice result - we were only looking for long trade here which we got after the initial correction