Hello folks!I am new to babypips and have been trading forex for 2 years. We have witnessed a dramatic plunge in GBP from 1.5000 high to 1.2789 low due to Brexit. Anyone has any views to share on the recent short squeezed on this pair?
If you look at the daily time frame you'll notice that the pair is consolidating sideways and it is forming a range that is getting tighter and tigher. Under such circumstances it's normal to see such movements.
Hello carlover, The GBP/USD pair is still falling and recorded a fresh low in last October at 1.1978. Over the last days started a small recovery, however, it is trading with weak momentum. So, I think that the pair will fail to recover its losses.
Which level do you think this pair will be trading in the following months? Will the GBPUSD recover the 1.30 level at least?
Markets were expecting chaos in the case of Trump won, but the uncertainty did not last for long. The pair is holding well in a positive territory while a small gap down to 1.255 level. Bullish trend might be extended this week, my next target is 1.28.
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