GBPUSD Roadmap Update Sep 2017

More upside

Komen:

Most likely this implies around 1.22 vs EUR

Komen:

Consolidation. May speech very important especially if noises are true that she will say something about paying for access to EU market

Komen:

So far successfully consolidating above 1.345 which are the post BREX Ref spike highs previous summer. Another key level, good to hold

Komen:

Sharper pullback to 1.335 possible

Komen:

Retail sails very solid and way above

Komen:

Cup and Handle potential formation argues for the upper range limit. Let's see first May on Friday

Komen:

If oil rises as is my base case, this also supports GBP

Komen:

This intrayear V reversal higher in GBPUSD argues for a 1-2 year retrace higher. Let's see how it goes first

Komen:

Today is MayDay, so let's see and listen

Komen:

Best will be to have some consolidation/small pullback to build the base for the next upleg

Komen:

Pullback in play

Komen:

Solid bounce off support

Komen:

Pullback is good so far, needs to establish a base in low 1.30s to attack 1.40

Komen:

Pound defending as expected the low 1.30s which were the post Brexit ref lows. Let's hope this is the new base established

Komen:

It does look more and more like base building for the next upleg. Attack or even bear trap at around 1.30 still cannot be excluded but so far quite constructive