Yahoo News GBP USD Weekly Price Forecast – British Pound Continues Same Argument
The British pound has fallen a bit during the course of the week but recovered nicely to reach towards the 1.30 level. Quite frankly, this is going to be one of the more difficult pairs to trade right now because we are in an area that has been so crucial for so many different times. Furthermore, we have the noise coming out about Brexit that will continue to cause issues, which should not be a huge surprise.
GBP/USD Video 02.11.20
Sunday, we will get a solution to Brexit one way or the other, and then the markets will probably celebrate either way as the British pound is historically cheap. However, there are obviously a lot of concerns out there, and not all of them coming out the United Kingdom. After all, the market is likely to see a lot of back and forth due to the fact that we not only have a lot of uncertainty when it comes to Brexit, but we also have to worry about things like the US election and of course whether or not there is going to be stimulus in the United States which will drive the way a lot of the rest of the world behaves.
In other words, there is a lot of noise and therefore this pair is probably going to be just as choppy as many other ones out there. With this, I anticipate that we probably bounce around between the 50 week EMA and the 200 week EMA marked on the chart.
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This article was originally posted on FX Empire
