Technically the GBP has gained some traction against the dollar but has now tested the weekly ascending trendline as resistance and rejected it with a lovely pin bar off key handle 1.533/1/535. This coupled with the breakout strategy where upon breakout price tends to retrace to around the 50% level of the breakout bar has also been fulfilled. Fundamentally, the BoE remains relatively less hawkish than the Fed and ofcourse with December quickly approaching the Dollar Bull Market is pricing in to launch the USD into space. I fancy tons of opportunities to short this pair with this analysis.
GLGT.
GLGT.