The weekly chart shows how important the resistance at 1.63 is for the pound
The MACD lines and histogram both show class A bullish divergences, with immediate recovery after the breakout occured on Friday. This chart looks very bullish for the coming days, and why not, couple of weeks.
I expect this area to be tested. If the USD is going to be weak, maybe we will get a full on rally to 1.67. The MACD lines and histogram both show class A bullish divergences, with immediate recovery after the breakout occured on Friday. This chart looks very bullish for the coming days, and why not, couple of weeks.