After the resignation of Boris Johnson in July 2021, the conservative party was preparing for an election. With 57.4% of the vote, Liz Truss will be the new UK Prime Minister (PM) for the next two years. She is about to change a lot, and we are about to tell you everything you need to know.
GBP/USD is welcoming a pinbar
2019-11-11 • Updated
TP1 1.4105 TP2 1.425 TP3 1.46
On the daily chart, GBP/USD bull managed to defend support at 1.3830-1.3835. As a result, the pair formed a pinbar. A successful test of its high will allow the pound to count on the uptrend’s resumption.
On H1, GBP/USD keeps forming 1-2-3 and “Spike with reversal and acceleration”. To break the uptrend, bears need to pull the pair out of the trading channel and reach 88.6% target of the “Bat”. The odds of this scenario are not high.
The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?
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