Will GBP/USD Continue its Ascent?
Pound dollar traders are watching this week/month's price action for clues on what may be next for this news sensitive pair. Since the about face in price direction during the summer of 2019 the bulls seemingly have taken charge but may be facing some resistance or sideways action in the near term.
So if you're a swing trader and have been long for several weeks are you taking profit at these levels, adjusting your stops, or anticipating the bull continuation? All questions that would likely elicit different answers based on who is answering...
We're not in the prediction business, rather we like to react to price action off of key levels and currently we seem to be at a price level where some decisions need to be made. Of course, the timing of those decisions is never known. With that in mind we may be in store for some sideways price action in the coming days/weeks as the story unfolds.
One thing that is almost certain is this pair rarely if ever stays in one spot for very long!