Rockets above ceiling area on Brexit deal hope
The GBPUSD has liftoff.
As Adam posted:
Looking at the hourly chart below….
….the pair earlier today was able to get above the swing highs from November 23 and November 26 at the 1.3397 level, but the high could only reach 1.34054 before rotating back to the downside.
This next move has seen liftoff through that. The high price has so far reached 1.3439. The risk now is a move back below the 1.3397 level.
Taking a broader look at the daily chart, the pair is currently trading at the highest level since September 1. On that day, the price high reached 1.34816. That is also the high price for 2020 (see chart below).
This article was originally published by Forexlive.com. Read the original article here.