Will the pound struggle against a Brexit no deal backdrop this week? I see a potential descending channel forming on 1h and 4h; the alligator looks hungry, MACD appears to be crossing zero line on 4h with RSI in bearish territory also. May short on market open....
Seasonality may favour a pullback in the USD bear trend through Sep, before possible resumption after some consolidation. If stock markets also struggle this week, GBP should pull back as well due to high correlation to 'risk on/off' sentiment.
Seasonality may favour a pullback in the USD bear trend through Sep, before possible resumption after some consolidation. If stock markets also struggle this week, GBP should pull back as well due to high correlation to 'risk on/off' sentiment.