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Pound / dollar: inverted 'head and shoulders' points towards 1.57 minimum


The interesting thing about this Thursday's session is that it closes weekly, monthly and annually. And this is going to close clearly above the important resistance (now support) of 1.35.

Technical analysis

Short term

Medium term

Long term

Within the relatively calm that the markets are in the last days, it can be said that the interest is more in the currencies. With one euro that rises 9.68% against the 'green ticket' in the year and with the pound appreciating, after an agreement 'in extremis' for Brexit against many of the main crosses. And specifically against the dollar. In fact, what we have before us is an inverted 'head and shoulders' that has been confirmed above the resistance of 1.35 (now support) and that if it is finally fulfilled, it would point towards price levels close to 1.57 as a minimum theoretical projection of rise. With the permission of the intermediate resistance of the highs of 2018 at 1.4376. Right now this cross is one of the few underlying market that seems to have woken up.

Weekly chart of the pound / dollar (or cable)

. (tagsToTranslate) Pound / Dollar: (t) 'head (t) shoulders' (t) inverted (t) points (t) towards (t) 1 (t) 57 (t) as (t) Minimum (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 : Currency pulses

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