GBPUSD Waiting for pullback to upward trend line - Bearish flag?
Morning traders, hope everyone is having a good weekend, little bit of weekend analysis, ready for the week ahead.
Looking at GBPUSD, which is respecting the upward trend line for now, I want to wait to see what price does as it retests the trend line. A break or continuation? I am planning for both a long and short set up as for me its unclear where and how price will react.
Jumping onto the DXY looks like its heading to the downside, with a recent lower low, a sign of further Dollar downside.
With continued news and allegations of voters fraud and Trump still not conceding and a large rally in Washington over the weekend, will uncertainty continue for the dollar? A continued lockdown in England with Scotland looking to be put under new restrictions. Boris Johnson under all sorts of pressure with his right hand man, Dominic Cummings resigning in the midst of a pandemic and continued uncertainty in a Brexit deal resolution.
What we all watching this week?
Looking at GBPUSD, which is respecting the upward trend line for now, I want to wait to see what price does as it retests the trend line. A break or continuation? I am planning for both a long and short set up as for me its unclear where and how price will react.
Jumping onto the DXY looks like its heading to the downside, with a recent lower low, a sign of further Dollar downside.
With continued news and allegations of voters fraud and Trump still not conceding and a large rally in Washington over the weekend, will uncertainty continue for the dollar? A continued lockdown in England with Scotland looking to be put under new restrictions. Boris Johnson under all sorts of pressure with his right hand man, Dominic Cummings resigning in the midst of a pandemic and continued uncertainty in a Brexit deal resolution.
What we all watching this week?