Pound's 1.30000 zone remains elusive, 'till when?
As with negotiations still ongoing in no concrete direction, the British Pound remains in a short-term range. Though the pair's long-term upside trend remains intact, a fail at 1.30000 may lead to a test of the support zone near the 200 SMA and the 38.2 Fibo level.
Price remains in a choppy move between the 200 SMA and the 23.6 Fibo zone. TD Sequential has not formed a 9-ner, and MACD is almost flat. We have a falling wedge forming here, but it's breakout will be defined if the bulls manage to push up above the 1.30000 zone. I would wait - and - see a price action for confirmation of the direction, before placing any risky orders upfront.
Price remains in a choppy move between the 200 SMA and the 23.6 Fibo zone. TD Sequential has not formed a 9-ner, and MACD is almost flat. We have a falling wedge forming here, but it's breakout will be defined if the bulls manage to push up above the 1.30000 zone. I would wait - and - see a price action for confirmation of the direction, before placing any risky orders upfront.