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Ukbrexit

Cautiously long the PoundThe pound is back on the bull trend, after it broke all major resistance apart from the 1.267 one, after it filled its 1.5% gap. Not breaking that resistance, being overbought, with declining volume and with big gap from the Moving average, my only potentially good trade would be to go long around 1.256 with a 2:1 R/R. Good news came out of the UK this week, but there is a lot more to come both from the UK and US next week, which will probably create a lot of volatility. Also, the US dollar is getting close to strong support and looks like it might reverse to the upside, taking away all Pound bullishness.
Long
by BitcoinMacro
GBPUSD Years to come. Back to the future.The most logical path I could find based on current structure support // resistance levels. The divergence is merely marked because I find it interesting to watch on the RSI alone. I've backtested RSI divergence on smaller timeframes and they were relatively reliable in terms of minor retracements and larger reversals. Would have to combine with more data to validate this however. And then we haven't even spoken about fundamentals yet. My guess is the first leg up will possibly start with heavy turbulence forward towards next year well into June 2017. Possibly GBPUSD will not even create a double bottom there, but it's the most interesting support // resistance line I could find at the moment. This means UK Brexit has set UK back about 3/4 years in time if we're lucky. Live long and prosper.
by UnknownUnicorn468659
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