Following a receding threat of no deal brexit, the £ has had back to back +1% weeks & has finally broken through the key 60 RSI level for the first time since May (In downtrends 60 RSI is the key resistance in momentum).
After breaking 1 key median line last week, the pound followed through, breaking a longer-term median line & the January flash crash low.
Next resistance levels are the 38.2% retrace of the 2019 decline & the 100DMA.
After breaking 1 key median line last week, the pound followed through, breaking a longer-term median line & the January flash crash low.
Next resistance levels are the 38.2% retrace of the 2019 decline & the 100DMA.