We are hearing bad news everyday saying that there is a looming recession etc. Market is still net short on equities since last year.
Looks like we are going to see a huge upswing of equities, with central banks being dovish which will boost equities with cheap money.
Market is net short & I hold a contrarian view on EURUSD. The price is also still below 200EMA previous breach of the 200EMA is not decisive shows that the bulls are not ready the push it up and higher.
I think that EURUSD might reach new lows.
The above is purely my observation and analysis, it does not constitute as any investment/trading advice.
As long the mess is not cleared up the chance of GBPUSD recovering.
We might see this pair close 1.21 end of this year.
The primary and secondary trend are all pointing towards the downside.
