GBPUSD - USD Economic Recovery due to Biden Stimulus
Hi,
USD has been showing their strength for last few weeks, thanks to Biden stimulus which is contributing to a brighter economic outlook of the states. As a country with a high availability on the Covid-19 vaccine, the strength of the currency could continue.
Based on the chart, the GBPUSD has been on a downtrend, they went on the sideways mode for a while and breached. The dotted support line of the sideways is now being tested, if the pullback happens, I am going to go short for a quite longer time.
Expect the price to reach 1.36.
Happy Trading!
USD has been showing their strength for last few weeks, thanks to Biden stimulus which is contributing to a brighter economic outlook of the states. As a country with a high availability on the Covid-19 vaccine, the strength of the currency could continue.
Based on the chart, the GBPUSD has been on a downtrend, they went on the sideways mode for a while and breached. The dotted support line of the sideways is now being tested, if the pullback happens, I am going to go short for a quite longer time.
Expect the price to reach 1.36.
Happy Trading!