GBP/USD- Short. Follow parker_trading instagram for live updates.
I am expecting a double top of the 1.29 area where it hits a major resistance level. After that I will monitor the chart but I am anticipating a large short back down to the 1.25/27 area for extended TP. My analysis is based on the market indicators and the worsening situation in the UK. Belief in the strength of the Pound is reducing rapidly with worsening COVID sitatution and a second lockdown on the cards. Not to mention the problems with the new Brexit bill.
I am expecting a double top of the 1.29 area where it hits a major resistance level. After that I will monitor the chart but I am anticipating a large short back down to the 1.25/27 area for extended TP. My analysis is based on the market indicators and the worsening situation in the UK. Belief in the strength of the Pound is reducing rapidly with worsening COVID sitatution and a second lockdown on the cards. Not to mention the problems with the new Brexit bill.