GBP/USD Heading for the Uncovered Close at 1.4395
Chart Prepared by Jamie Saettele, CMT
-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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.