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GBP/USD Heading for the Uncovered Close at 1.4395

GBP/USD Heading for the Uncovered Close at 1.4395

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Heading for the Uncovered Close at 1.4395

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-GBP/USD has turned up sharply. The rally is within the confines of a downtrend but Cable could trade to 1.50 and still be in a downtrend. The emotion surrounding the Brexit headlines is consistent with a fairly important low but the rate could experience pullbacks in the 1.4250-1.4550 range. Be aware of the uncovered close at 1.4395 as a near term pivot.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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