The GBPUSD has not been able to break above the 1.2800 level but the bullish momentum should accelerate if it confirms a breakout above that level. The 1.2900 level could be its next resistance and the 1.2700 level could be its next support.
Turtle eur is short in the gbp usd. I have already closed the position with some loss. It should be back to level 1.2700. Then I think it will be closed and whe can expect new trades. I hope for the investors that it will recover soon.
GBP is under pressure due to the disappointing UK data. This pressure is likely to increase with the coming March 29 deadline. The nearest support is 1.2852 and then 1.2826 level. The 1.2969 level will be the resistance for growing.
GBPUSD is growing after Brexit news, and got some correction after GDP data. I see the 5 waves Elliot impulse forming, through the 1.3300 resisance. But in the case of impulse cancellation, I see the further 1.3046 suport test.
300 pip range for the GBPUSD during yesterday's and today's sessions. The pair is very volatile with no clear direction. The trading range stays between the 1.3300 zone and the 1.3000 zone. A breakout of either level may accelerate its momentum in the direction of the breakout.
It is pointless trying to use technical analysis now on GBP pair. Brexit dominates everything and that will only change once there is a deal. Even the best technical set up will be destroyed by a annoucement about a potential deal
You say that but if you look at the charts the normal chart patterns are holding very well. Sure there are some reversals that blow through stops but on the 1 hourly anyway there are still good technical trades
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