GBPUSD

In my recent YouTube video, I was explaining how the market front run's news killing what should have been a normal cause-and-effect relationship. In other words, if you wait till news becomes reality by the time the market has most probably already discounted your expectations. We need to think again. The chart of the GBPUSD below shows something similar. The GBP or British pound was falling for many years as the dollar was rising. Among the reasons is also the news of a BREXIT, in the impact of a hard exit from the European Union. As long as it was debated the GBP was falling. Now that it's the reality we see the exact opposite rising GBPUSD which is now in an uptrend and has broken past the falling trendline since 2007. Wave 3 of 3 has been slowly building up near the bottom end of the channel but should eventually head towards the top end of the channel which is at 1.50.