Hi traders,
We saw high impact events last week, most notably the UK general election on Thursday. The market reacted positively to the Conservatives retaining majority.
However, the following day price found bearish pressure but the GBPUSD did not erase the gains made on the day. Which suggests there is demand.
The stochastic crossed bearish, the GBP may have found a new zone of consolidation and we need to be looking for the breakout to test 135200.
All the best,
Aardall
We saw high impact events last week, most notably the UK general election on Thursday. The market reacted positively to the Conservatives retaining majority.
However, the following day price found bearish pressure but the GBPUSD did not erase the gains made on the day. Which suggests there is demand.
The stochastic crossed bearish, the GBP may have found a new zone of consolidation and we need to be looking for the breakout to test 135200.
All the best,
Aardall