01.11.201810:00 Forex Analysis & Reviews: Pound hints at a possible reversal of the dollar

Long-term review

The pound hints of a possible reversal in the dollar.

On Wednesday and Thursday morning, the pound showed a strong rebound to the top by 150 points in 4-digit.

The picture on the pound has changed dramatically. Now, the picture looks like a "double bottom".

The US news was strong but as we can see, the dollar did not help.

A possible reason is a new balance in European currencies, taking into account that the Fed rate hike has already been reached.

We are ready to buy the pound from 1.2860.

Exchange Rates 01.11.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Jozef Kovach,
Analytical expert
InstaForex Group © 2007-2021
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