GBPUSD trends toward 1.30 despite Brexit Chaos

January 22, 2019

The British pound continues a run towards the 1.30 level despite the chaos surrounding the Brexit from the European Union. The currency pair is also approaching 2 standard deviations above the 200-day linear regression line (red) which can suggest the GBP is approaching an overbought level. The RSI indicator, however, is currently bullish but not confirming overbought levels meaning that trend may have some more room to test the 1.30 level. #forex #gbpusd #countingpips #usd #investing