GBP/USD – Week 3 – Bears around the corner.
Updated
Looking ahead to this week, the UK’s vaccine rollout has supported the British Pound despite the new high number of virus cases, while the market sentiment is expected to slowly become bearish. That being said, domestic data will be worth keeping an eye on, with the U.K. PMI’s in particular, which provides a more precise update in reference to the UK economy.
Last week, as we pointed out in our analysis, the price broke the previous top and then started losing momentum, with our current expectations standing towards a medium-term price depreciation for this pair. There is a slight chance that GBP/USD will break the top again and our recommendation is to focus on the outcome that is most likely to play out.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Last week, as we pointed out in our analysis, the price broke the previous top and then started losing momentum, with our current expectations standing towards a medium-term price depreciation for this pair. There is a slight chance that GBP/USD will break the top again and our recommendation is to focus on the outcome that is most likely to play out.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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