OANDA:GBPUSD   British Pound / U.S. Dollar
In this current analysis I have put together as shown on the chart the pound has been hit with some bad news across the uk with the national lockdown and brexit there is a lot of uncertainty in the uk I believe that price will pull back to my purple trend witch depending on the price action at the time and how we see candle closures at this level I will be looking to open short positions targeting the first level shown by the red arrow and a possible continuation down to the green arrow as soon hope I can get some feed back

Comments

That's not even your analysis
+2 Reply
@mistrzd well who’s is it then lol
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Brexit has given us more certainty than we've ever had now that it's finally been delivered. In any case news creates volatility, not direction. It's the chart patterns and the nature of the market which dictate direction. 👍
+1 Reply
BradTrades18 StewySongs
@StewySongs and how so? there is a lot of troubled waters with uk eu trade the uk might even see a shortage of certain products and medicines so I personally still see the uk as in a negative way I believe in the coming months the dollar will gain abit of strength as it’s currently at 3 year lows once things get cleared up over there with trump etc I believe there will be a short term recovery leading into q2/q3 of this year on top of witch in the longer term outlook the dollar would be that it will fall even more but not after making some sort of recovery rally before hand especially with the full uk lockdown it’s gives the pound even more reason to weaken
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