GBPUSD is in uptrend and recent comments from BOE gov. Carney could be used for buying lower where POC is. Lower inflation, Brexit risks, and services sector is the main risk for UK economy. For all who don’t know it yet, UK is mainly a Services economy, about 78% of GDP is Services and GBP is heavily influenced by the capital flows from the financing hub of London.
Technically GBPUSD is bullish with occasional “sell the rips” as I have already pointed out. Intraday chart shows a Rounding Bottom pattern that indicates an uptrend where we might eventually witness closing of Breakaway Gap that still exists on the charts. POC (trend line, L4, 23.6,EMA89) comes within 1.4190-70 zone and the price needs to hold above 1.4150 else it might further retrace towards POC2 in 1.4110-00 zone ( L5,50.0, channel bottom). H1 momentum or 4h close above H4 camarilla PP will close the gap and the price should proceed towards 1.4400 zone where the rounding bottom will be completed.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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