The GBP/USD pair fell to 1.3838 within London trading hours amid persistent tensions between the UK and France over fisheries rights. The French government rejected Britain’s latest regulation for fishing in its waters near the Channel Islands. French fishermen have complained that they are being prevented from operating in British waters because of difficulties in obtaining licenses, a Brexit-related issue that has escalated in the last few weeks. Read more…
The bulls are in control from a longer-term perspective, but there is still work to do on the lower time frames, as illustrated in the following top-down analysis. The monthly outlook is bullish from the 38.2% Fibonacci retracement and support structure. The weekly chart is also bullish with the bulls moving price away from the weekly support. Read more…
GBP/USD unexpectedly wiped out 5 days of gains as the pair collapsed 160 pips in the sideways trend on Friday then recovers most of the losses on Monday. This is an unpredictable erratic sideways trend. EUR/GBP topped exactly here at first resistance at 8712/19 & bottomed exactly at first support at 8665/55 yesterday. Read more…
