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Old 03-28-2019, 07:34 AM   Nav to Top  #1
Adriana Lowe
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Default Brexit: GBP/USD technical analysis

(credit: Chart from Sigma by Hydra X https://sigma.hydrax.io/)

The British rejected all of Theresa May’s proposed Brexit models, causing the Pound to retreat. May earlier promised to resign from office once Brexit was delivered, in a bid to win support for her deal from her Conservative Party colleagues. But despite early signs that her gamble could pay off, none of the eight options received clear backing from British MPs.

GBPUSD has been trending steadily higher above support provided by an ascending trend line dating back to early 2019 lows. If the uptrend continues despite political uncertainty, the currency seems poised to retest overhead resistance clustering around the 1.33 handle.
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