wrapper

The British pound has dropped a bit during the week, but still remains well above the 1.30 level, as we continue to hover in a consolidated phase. The question now is whether or not this is an accumulation phase, or perhaps simply the market just giving up for a while. I think that we will eventually see buyers come back into this marketplace, but I also recognize that this could go on for quite some time. Because of this, longer-term traders may be looking to pick up a bit of value here in the British pound, but I also believe that they are a bit skittish about buying too much. If you are a longer-term trader, and you have an upward bias like I do longer-term, then perhaps you should be building a position slowly, with little bits and pieces along the way to eventually take advantage of what hopefully will be a celebratory move later this year once we get the Brexit details figured out.

The alternate scenario of course is that we break down even further, perhaps in some type of meltdown in the Brexit talks, and I think if we break down below the 1.29 level he could open the door to the 1.2750 level and then eventually the 1.25 handle after that. Currently though, it certainly looks as if there are plenty of believers right around the 1.30 mark.

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.