GBP/USD, Brexit referendum is too much for the British Pound!

mario urlic forex gbp-usd 24.02.

In my GBP/USD analysis from February 02. I have pointed at 1.4600/50 as an resistance which can’t be broken on the way up and that was right. Latter on, the Brexit referendum called for June 23. in this weekend was just another reason for big sale in this pair. US dollar is favorable, which is apsolutely normal, but what could we expect now? There is 4 months until the referendum and I don’t see for the Pound to fall  without the end. What we can see here in this Monthly chart is the low from the last 25 years at 1.3500, from January 2009. Based on this, it’s obvious that the sellers are aiming that level, but could we expect buyers there? Well, that is good question on wich is hard to find an answer, but they must be somewhere and that could be the place for the big players!? Infront of that level, there is also a good support at 1.3600/50 and that could be the first test. Could we see a new ATL? Sure we could in the conditions like this one, this is a huge weight for the Pound, who want’s to be in?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s