Chart of the Day -GBPUSD- (Nov. 23rd 2018)

26th November 2018 Off By binary
Chart of the Day -GBPUSD- (Nov. 23rd 2018)

GBPUSD set for a consolidation ahead of Parliamentary vote late December.

The GBPUSD looks to be in a long term consolidation that may carry us through December as the UK parliament will vote on the BREXIT deal ahead of the Christmas holiday. Near term the resistance looks to be at the 1.3100 level with support coming in at 1.2800. Also note that the daily RSI is pointing to the direction of consolidation. Watch the symmetrical triangle because an eventual breakout will dictate the next move.

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Blake Morrow

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