GBP - BULLISH
1️⃣ Optimism surrounding a post-Brexit trade deal as Britain's chief negotiator David Frost told Prime Minister Boris Johnson to expect an agreement with the EU as soon as early next week.
2️⃣ Annual inflation rate in the United Kingdom jumped to 0.7% in October of 2020 from 0.5% in September, and above market expectations of 0.6%.
USD - BEARISH
1️⃣ Surging coronavirus cases in the United States highlighted the need for additional fiscal stimulus to support the economic recovery.
2️⃣ Investors have grown concerned that rising levels of debt could drag the economy and likely weighing on the world’s reserve currency.
3️⃣ US retail sales growth modestly by 0.3% in October, following a downwardly revised 1.6% gain in September and below market expectations of a 0.5% increase.
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Technical
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We are looking to buy the GBPUSD above the support of 1.32400 + above SMA 50 on the H1 chart.
1️⃣ Optimism surrounding a post-Brexit trade deal as Britain's chief negotiator David Frost told Prime Minister Boris Johnson to expect an agreement with the EU as soon as early next week.
2️⃣ Annual inflation rate in the United Kingdom jumped to 0.7% in October of 2020 from 0.5% in September, and above market expectations of 0.6%.
USD - BEARISH
1️⃣ Surging coronavirus cases in the United States highlighted the need for additional fiscal stimulus to support the economic recovery.
2️⃣ Investors have grown concerned that rising levels of debt could drag the economy and likely weighing on the world’s reserve currency.
3️⃣ US retail sales growth modestly by 0.3% in October, following a downwardly revised 1.6% gain in September and below market expectations of a 0.5% increase.
=====
Technical
=====
We are looking to buy the GBPUSD above the support of 1.32400 + above SMA 50 on the H1 chart.