Take a fresh look at your lifestyle.

Attentive to the potential 'head and shoulders' reversed of the pound against the dollar


The European Union and the United Kingdom are about to reach a historic trade agreement about Brexit. Prime Minister Boris Johnson is scheduled to hold a press conference this morning where he can announce the details.

Technical analysis

Short term

Medium term

Long term

This Wednesday, community sources leaked that the agreement was "imminent" and that the negotiators of both sides would continue working all night to announce a pact this Thursday, when there is barely a week left for the final departure of the United Kingdom from the community club. A deal before Christmas would avoid a turbulent economic breakdown and would be very well received by the markets.

Technically, and in the absence of the closing of the weekly candle of the pound against the dollar (or cable) what we have in front of us is what is known as an inverted 'head and shoulders', with important bullish implications for the pound. The overcoming of the important horizontal resistance of 1.35 is a first warning to sailors. If the return figure is finally confirmed, the theory says that at least it should regain the height of the 'head', which would project you towards the area of ​​approximately 1.57. With the clear permission, there is the intermediate resistance that it presents in the highs of 2018 at 1.4376.

Weekly chart of the pound / dollar

. (tagsToTranslate) Attentive (t) potential (t) & # 039; head (t) shoulders & # 039; (t) inverted (t) pound (t) against (t) dollar (t) Category: All (t) Category : Market Report (t) Category: Currencies (t) Category: Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Pulses Currencies

Leave A Reply

Your email address will not be published.