The pound has been correcting for the last 4 months after the Brexit turmoil. I don't trade fundamentals but given that the negative effects of Brexit are "priced in" I expect the pound to recover this year.
This is potentially backed up by the charts - I see the channel line as a potential bottom so price should rise from here. It could possibly complete a C wave before starting a new upward impulse. We also have a double bottom on this daily chart (for those of you who trade them) Lets see what transpires over the coming months.
All forecasts will be updated as they develop - remember to follow to receive them.
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes. Your Ideas, comments and questions welcome
Good luck Steve
Komen
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1H chart
Komen
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This now looks like an expanding flat - we are currently looking for the bottom. Wait for a long entry set up before opening a position
Komen
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A nice result - we were only looking for long trade here which we got after the initial correction