More likely short for next week due to
- increasing covid case
- brexit post truce action
- the breaking of uptrend over the weekend loss of momentum
Slight possibility of up trend
- 19 July freedom day confidence in retail investors
- better economic outlook in long run for GBP
- DXY testing support line
Notes on news
After NFP data published, USD fades on bull potential as expectations for fed to change rates are rejected due to unemployment data.
British covid on rising, BOE speech signaled that it does not directly attribute to decline in economy growth.
Technicals
-Matching data with past rebound has the potential to test 1.4000 mark in the next coming 2...
Simply analysis of USD break out pattern, multiple support killed after NFP data.
Speculations that fed would remain its position since a high number of households remain supported by capital injection and higher unemployment.
On GBP side, 1D stochastic has committed to uptrend and broke the downtrend after clearing 1.38000 resistance last night, expect it to...
Series of lines of previous supports and resistance, market set for rebound on Monday from sell tension with maximum rebound point to stop at 1.34 rear before dropping to retest monthly support
