Ok guys,
Here we have an exciting opportunity to make some free money!! Sounds interesting right? GBPUSD pair had broken down the major support level recently on the daily chart. We have just seen the correction and it stayed within that downside channel followed by a nice pin bar on the 4h chart, bearish engulfing candle on the 1h chart which suggest the resumption of downtrend. It can go as low as the recent 1.1480 level. So, be patient. I have marked all tp and sl for you as well.
Our chancellor had recently indicated that we are going for a recession which is a bad news for the UK economy, COVID19 is not going anywhere soon, BREXIT stallmate as both parites are rigid in their own stance which has opended the door for a now deal brexit. Plenty more reasons for GBP to go down.
Let me know your thoughts.
Trade safe and good luck.
Here we have an exciting opportunity to make some free money!! Sounds interesting right? GBPUSD pair had broken down the major support level recently on the daily chart. We have just seen the correction and it stayed within that downside channel followed by a nice pin bar on the 4h chart, bearish engulfing candle on the 1h chart which suggest the resumption of downtrend. It can go as low as the recent 1.1480 level. So, be patient. I have marked all tp and sl for you as well.
Our chancellor had recently indicated that we are going for a recession which is a bad news for the UK economy, COVID19 is not going anywhere soon, BREXIT stallmate as both parites are rigid in their own stance which has opended the door for a now deal brexit. Plenty more reasons for GBP to go down.
Let me know your thoughts.
Trade safe and good luck.