The
House of Commons gave green light to the UK Prime Minister Theresa May,
neglecting the amendments passed by the House of Lords and officially the
divorce with the EU got started.
Yesterday
the Scottish First Minister Nicola Sturgeon announced that next week will apply
for permission for conducting second independence referendum.
During
Monday’s session the GBP/USD was trading uplifted and marked daily high at
1.2250 after had formed triple bottom. This level is of major importance as
represents 23.6% Fibonacci retracement of latest February down slide and is
acting as a resistance. Following the Brexit development today the pair
couldn’t hold the line and dropped sharply towards 1.2105 area.
Technical
readings on the four-hour time frame are showing bearish signs. The 20-day SMA
is staying flat, while RSI and stochastic had turned to oversold area and are
indicating very strong downward momentum. A recovery might only be seen only in
case the pair fight the intermediate resistance located at 1.2150. Anyway
currently GBP/USD is quite vulnerable and the key driver for the future months
will be the Brexit development.
No comments:
Post a Comment