„He
Who Marches Out Of Step Hears Another Drum”. I found my favourite quote from „One
Flew Over the Cuckoo's Nest” so appropriate to Pound’s behaviour today. The
Brexit bill was finally negotiated between EU and UK and the 60 bn euro financial settlement will be accomplished
before the deadline on December 4th.
Despite the pullback during the early NY session to 1.3220, the GBP/USD pair is
currently trading at 1.3374. On the four hour time frame the price is located
above its bullish moving averages. RSI and stochastic had turned sharply bounced
from their oversold readings and are showing strong bullish momentum. The rally
might extend in case of disappointing US data tomorrow and next bulls target is
seen at 1.3420.
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