GBP/USD: Brexit Talks Remain In Darkness On Black Friday, Bullish Triangle In Danger

Overall, Brexit is driving sterling lower while everything else is pointing in the other direction

GBP/USD Technical Analysis

Pound/dollar is dipping below the bullish ascending triangle. The breakdown is yet to be confirmed, but upside momentum on the four-hour charge is already fading.

Support awaits at 1.3310, which was a double-top and now converges with the 50 Simple Moving Average. It is followed by 1.3265 and 1.3245, which worked as cushions earlier in November.

Resistance is at the recent high of 1.3397, and then by September’s peak of 1.3495. Close by, the December 2019 high of 1.3510 awaits.

1 2
View single page >> |

Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.