The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”.
GBP/USD: is there any hope?
BUY 1.2755; TP 1.2795; SL 1.2740
GBP/USD is a hard thing to trade right now given the concerns about Brexit. This week, however, the pound has found some temporary relief as investors’ concerns went down a notch. In addition, the pair was supported by the broad weakness of the USD.
If you look at the H4 chart, you will see a series of higher lows. The price is also above the 100- and 50-period MAs. All of this would allow the pound to gain if the US data disappoints. The rise above 1.2750 will allow the pound to get to 1.2795 (38.2% Fibo of the May decline). Bears will regain their powers below 1.2680.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
The key question about Brexit now is whether there will a deal between Britain and the European Union or the parties end up without a one.