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GBP/USD Updates

by ortal gretchin

19.9.19

GBP/USD Updates

The GBP/USD chart is actually positive and could break to the upside. We also have sideward action here the past 4 trading days but with the triangle pattern forming the price could move to the upside. Obviously, Brexit will determine what happens with the GBP, this chart is saying there may be a deal reached between Boris Johnson and the EU. In order for the GBP/USD to move higher it will need to trade above the upper Blue line as well as the Red line. To the downside we have the lower Blue line which held support during the sell-off which today 1.2455. The trades here will be determined by the lower blue line and the upper red line. A move above the upper red line would be a buy signal, the red line today is at 1.2533 and a move below the lower blue line would be a sell signal. We likely won’t see much movement