The pair has retraced from 2.09926 reaching 2.02859. The descending trend line has been broken and was tested twice to be proved as a strong support line if broken the will take us to 2.03, but more likely it will hold the rate from collapsing and will shoot up to 2.1000.
It's a personal points of view for the market and any risk will depend on your decision.
It's a personal points of view for the market and any risk will depend on your decision.
Comment:
The pair broke the lower support and deteriorated to the mentioned level of 2.03, which should act as a strong support line a further slide will take us to 2.000 and 1.8. If the support line hold the rate there will be strong buyers to take the rates up.
Trade active:
If PM Boris Johnson eased restrictions the market will meet such information as positive for the GBP and we expect the pair to start bouncing back. The PM statement on Sunday should be monitored closely.
Trade active:
We noticed that the pair continued falling and the door is open to retest the level 2.000 due to the late response of the the UK government to the Corona Virus and the mixed messages from the government officials and lately the Brexit deal negotiations. I believe now the door open to go long. We have some 1000 pip to earn.
Order cancelled