GBPUSD. What's next for the pound?

in #forex6 years ago (edited)

British Parliament voted in favor of Article 50 which states that on the 29th of March 2019 Britain will finally leave the European Union with or without a withdrawal deal, leaving us approximately 40 days to wait and see what happens with the Pound. Currently the GBPUSD looks like it is in an undecided trading range with no real indication of where it will go next.

Anything that happens from now until March 29th can affect the pound and policy makers can change their mind at the whim of a parliament vote to possibly extend the date further as they have been frantically doing since the British voted to leave the EU. It's been trading between approximately 1.27 & 1.32 since the summer of 2018.

gbpusd 2-19.PNG

Currently I have no bias on this pair, but I think it would be wise to look for opportunities at either side of this range.