Currently analysis showing a bullish pennant / bullish triangle pattern. Still very hesitant to get in on any GBP for the following reasons:
- Price is too high to start entering - Major move has already taken place - High volatility due to Brexit
To be a bull in this situation: - Wait for confirmation of the triangle break as the price is very close to the apex - Monitor Brexit developments and parliamentary votes.
To be a bear in this situation: - Wait for confirmation of triangle break and scalp entry back down to the previous support level. - Monitor fundaments for any negative Brexit news / Econ data