Sterling pound is struggling on different levels:
1- BOE disappointed investors by providing less liquidity than anticipated.
2- Brexit woes.
3- Fear of second Covid-19 wave.
4- Economic recession
All those factors are weighing on the pair which almost completed a head and shoulders pattern on the 4H chart, but still waiting for confirmation.
Bears and bulls are now fighting over the neckline support.
Traders must wait for a confirmation/close below this level for a safer short position.
Good luck
1- BOE disappointed investors by providing less liquidity than anticipated.
2- Brexit woes.
3- Fear of second Covid-19 wave.
4- Economic recession
All those factors are weighing on the pair which almost completed a head and shoulders pattern on the 4H chart, but still waiting for confirmation.
Bears and bulls are now fighting over the neckline support.
Traders must wait for a confirmation/close below this level for a safer short position.
Good luck
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading