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December, 18 - GBP/USD is going through a failed breakout

GBP/USD has been our hope and our support for several weeks now. It has been a very long time since we saw pound grow so much against the greenback and we have really taken advantage of the growth. But, everything has to come to an end, and pound growth too, apparently.

 

gbpusd 18.12.2019

 

Pound is going through a failed breakout, the currency had all the chances to see highest point in years, but the growth was interrupted by the general election that took place in the UK last week. the whole world was watching as UK citizens elected their way towards no-deal Brexit by choosing conservative party over Labor once again. Johnson is now firmly in his seal and it doesn’t seem that he is going to go anywhere.

 

Surely, the perspective of no-deal divorce is not sitting well with traders and the need to protect their own money is far greater than the need to support GBP. These are the basic reason of why the chart of GBP/USD is doing so bad lately. The slip started yesterday and is only gaining power today. There is almost no way that it should stop today or tomorrow. But the time will tell.

 

If there is to be a breakout or reversals, trading signals are going to tell you all about them.

 

 

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