GBPUSD - Week 1 - Bad Brexit --> Strong Pound
Updated
The British Pound finished the year on the front foot against the US Dollar. The new strain of Covid-19 aggravated the situation in the UK, with the country reporting over 50.000 new cases for four days in a row, while slowly heading into tier-4 restriction in several areas over the nation. The price ignored this aspect, along with the news that came out regarding the Brexit agreement with the European Union. The post Brexit deal, which has been approved by the UK lawmakers, excluded crucial service sectors which make up for more than 80% of the British economy. Technically speaking, our analysis points out that a bearish move should come soon. At the moment, the pair is making higher-highs, but we expect this to end soon with a move towards the big liquidity area around the 1.31 levels.
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.
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.
Trade closed manually
We will still look for sell setups starting from Monday.
Disclaimer
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