GBP/USD CHART

A very interesting couple of days trading since our last chart shows that we indeed had a good look at the market on the support levels at 1.4852 and 1.4781, the latter really not being tested at all. We are now trading back into the belly of our range and are looking for direction regarding our next move. I still feel that in the run up to our election and the uncertainty surrounding the outcome, that sterling could be put under pressure and a retest of the support levels is inevitable, only a close above our resistance level at 1.5349 would indicate a reversal of the current trend.

Disclaimer

The above details are only the authors own opinion. Markets can be very volatile and prices will fluctuate as a result. Any decision to buy or sell currency is purely at your own discretion.