GBP/USD Ahead of Brexit

Hello and welcome to the latest issue of YTE! I hope you’re well. In this article we will be looking at the current state of the GBP/USD currency pair with a view to identify upcoming trading opportunities as we move towards the revised 23rd May Brexit deadline.

Firstly looking at the GBPUSD 4hr chart (Figure 1) we can see the pair has been trading within a triangular consolidation pattern between support at 1.2970 / 1.3 region and resistance around 1.3330 area. These levels were respected by the market throughout the month of March and early April.

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