GBP/USD
Date: July 12, 2016
D1 chart: W1 short trend, D1 chart impulse for long after the price reached support at W1 chart
The price reached level of support at weekly chart and now we see an impulse for short-term long
Price Action: Hammer formation - signal for long
Fundamental analysis: After Brexit the pound is under pressure, put the pair is sold out and after a strong impulse upward from these levels, there is a good chance for sort-term long. In a long term, US dollar will take preponderance and will remain strong. But now FED will not increase the interest rates and UK economy may hold at current levels because the country will not leave the EU soon, if it happens at all, and until then there are no changes in EU trade regulations.
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