GBP/USD bears lurking below critical dynamic support, eyes on 1.34 the figure By ross_burland GBPUSD Technical Analysis BOE Brexit
Brexit will come roaring back into the headlines this week. A senior French official said that “At the start of January, January 4 to be precise, we will have meetings with the EU commissioners to define the process and the measures that need to be taken. Between January 4 and January 6, there are very important meetings to begin the legal process against the UK”
However, the 15-min chart is offering a bearish reversion pattern and the price is meeting 15-min resistance:As illustrated above, the price could be destined for a meanwhile move to the downside prior to further upside as follows: GBP/USD H1 chart Having said that, the price has already corrected a significant length of the bearish impulse and has reached a 38.2% Fibonacci retracement level as follows:
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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