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GBP / USD Close to their Highs for the year…

It was the 24/6/2016 when the Brexit was announced and the GBP / USD fell from 1.50 to 1.20 at the end of that same year. From there the whole year 2017 was recovering to practically the height of the 1.44 in which arrived at the beginning of this year 2018. Since then we have attended a small lateral correction to 1.37 and from there it has lateralized marking the same between 1.37-1.44. More specifically, since mid-March last, the value has been located in the upper half of that range without losing key areas, but in turn without power with the roof of the side (1.44) due to lack of strong long volume . This last Friday (13/4) he tried to break the last roof without success, with some divergence and with scarce long volume. Therefore, the long pass inexorably because they do so with much stronger long volume of the seen these last sessions.

On the contrary, the shorts go through the return of the strong short volume again and also with the loss of key areas such as the SMA of 30 on the daily chart (1.4081), then the SMA of 200 on the chart. schedule (1.4172) and later the Fibonacci 61.8% (1.3964) of the last previous raise, somewhat below the price support of 1.40.

For all this and as we have been warning lately, all prudence will never be out of place.

See in our video analysis today everything in more detail, as well as the key areas to contemplate and a more extensive explanation. Also in the morning broadcasts on Monday and afternoon that we do daily.

Posted in GBP

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