SELL GBP/USD at Market (1.2800)

31 thg 5, 2017

The long range Weekly TF looks ever more BEARISH for the GBP. The TDI -0.08% sees the RSI crossing south over the upper volatility band and the signal line. From here a move back to the market line looks inevitable and this means this pair (and all GBP pairs) are likely to be headed lower. The DTF seems to confirm the BEARISH picture with price over 200 pips off recent highs and price looking for support at WS1 pivot at 1.2712 and the 200 sma at 1.25 below that.
Political tensions are not helping the GBP with Labour closing the gap to May's Conservative party and uncertainty over Brexit.
We recommend SELLING the GBP at market 1.2800.
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