GBPUSD At Key Resistance

3. Dez. 2017

GBPUSD at key resistance, we have sellers coming in at the resistance and if the wave structure holds we should get a swing lower completing the 5 wave cycle however if we get a break above the 1.35-13700 zone we can expect higher prices. Fundamentally the market has been getting positive news concerning brexit however there is still some uncertainty surrounding Ireland and the Irish border and this may weaken the pound. On the other hand there seems to be major progress on the US tax bill which is now very likely to be passed and if it does should strengthen the dollar