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Pound/Dollar: Preparing for Strengthening Against Dollar

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/USD 1Н Yesterday’s expectations went as planned. Due to a growth in the euro/pound rate the USD weakened. The market is still thin. Be watchful and ready for sharp fluctuations. The hunt for decent stops before New Year is what the big players love most. The calendar is empty, so a spike in volatility is likely to occur through the cross rates. I’m going for fluctuations near the LB because of the cycles. A break to 1.4995 is also likely since the weekly has seen a hammer form on it.

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