Hello Traders. I think technically we still have a continuation of the bearish momentum after the violation of structure that occurred last week.
we came up to retest the broken support now turned resistance and we might have a downside push these coming hours or days.
Fundamentally, we have a strong Pound as we just received positive GDP numbers(MoM) however, as we have it paired with the currently strong US Dollar, we might have a continuation of the bearish move.
Please Like and comment.
we came up to retest the broken support now turned resistance and we might have a downside push these coming hours or days.
Fundamentally, we have a strong Pound as we just received positive GDP numbers(MoM) however, as we have it paired with the currently strong US Dollar, we might have a continuation of the bearish move.
Please Like and comment.
Comment:
The positive GDP and Boris Johnson's cabinet reshuffle gave the pound the strong up move and changed the short term biasness.
Trade closed: stop reached