GBP/USD, It’s not Grexit, it’s Brexit!

mario urlic forex gbp-usd 10.02.

It’s always something, right!? Well, this time the term ‘Brexit’ is scary for the Pound as the term ‘Grexit’ was for the euro last year. Sure you’ve heard about the possibility for the Britain to leave the European Union and that is why the Pound can’t recover versus US dollar which is weak for days versus other currencies in the market. But, let’s leave that a side and take a look at the technical analysis. As I have pointed in my GBP/USD analysis from February 02., 1.4600/50 is the place for huge sellers and that I don’t see how the buyers could brake that on the way up. Well, that exact level hold the pair on the way up on February 03./04. and the pair retuned down to 1.4350 level, where the buyers have waited and hold the fall. It’s obvious that the term ‘Brexit’ and furder development about that issue will be very important here. There is some indications that this is not just a story and one of them is that the BoE has prepared enormous amount of money if needed and that probably the most important one. Well, what to say then but, watch the technical levels, they are still the most important for furder moves here, until…

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