GBPUSD is hard hit by pendamic situation as most economic sectors are shut down due to lock down and the Brexit process lost its paced with the current situation. We are not expecting any trade deal with US as Johnson and Trump meeting yet to be done. The pair has completed its little retracement and following the channel downwards.
If we were to turn around a break above the highs from both the Tuesday and Wednesday session, then the market is likely to go looking towards the 50 day EMA , which is painted in red on the chart. Break above that level, of course, would be a very bullish sign but right now it looks as if the British pound is trying to break down lower, as we have had a sudden shot to the downside, a significant bounce, and now we are trying to figure out what to do with the pound itself right now. We are pressing the previous support level from the previous consolidation area, and that of course suggests that there should be significant resistance as we have seen of the last several days. I like the idea of fading rallies at this point, and of course aiming for the lows that we have recently seen near the 1.21 handle.
If we were to turn around a break above the highs from both the Tuesday and Wednesday session, then the market is likely to go looking towards the 50 day EMA , which is painted in red on the chart. Break above that level, of course, would be a very bullish sign but right now it looks as if the British pound is trying to break down lower, as we have had a sudden shot to the downside, a significant bounce, and now we are trying to figure out what to do with the pound itself right now. We are pressing the previous support level from the previous consolidation area, and that of course suggests that there should be significant resistance as we have seen of the last several days. I like the idea of fading rallies at this point, and of course aiming for the lows that we have recently seen near the 1.21 handle.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.