GBPUSD bears back in business!!
As we can see from the chart attached above, it may look like the USD bulls are picking up steam again as the GBPUSD gets rejected from the ascending trendline with a doji candlestick forming yesterday and a nice bearish confirmation candle candle forming today after the FOMC rate decision which was inline with the consensus of leaving rates unchanged at 2.25%. As for the Pound (GBP) there's many mixed headlines in the news regarding Brexit some saying that the UK final draft proposal can be sent is by the end of the week. Others saying that PM May is now asking for more time. So as we can see there's no clear direction at the moment. We have seen efforts by the EU and UK to come to an agreement, but I remain a long term bear on the GBP for the time being as I don't see a foreseeable way to get around this Irish Boarder issue, and I feel that PM May might have trapped herself between the EU and her own Parliament.
Anyways, I hope you all enjoy my personal view on the future price movement of GBPUSD.
Please like and feel free to leave a comment or create a discussion as long as it's positive.
Enjoy!
Alex
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