GBPUSD is this a good opportunity? 29.09.2021
The market was bearish yesterday when with he GBP loosing strength while the USD was gaining. Most of the pairs having the quote currency USD, were moving downwards showing significant volatility.
A 190 pips downward move for GBPUSD, since the European session started, was the result of yesterday's activity. With Powell's and Yellen's talks regarding economic policy, the USD kept its strength and, importantly, no significant retracement took place.
We expect this to change this morning (EEST) and according to Fibo retracement level, the pair finally to retrace around 1.3590 the least. Usually the GBP gains momentum at 9:00-10:00 (EEST) during the London/European session.
A 190 pips downward move for GBPUSD, since the European session started, was the result of yesterday's activity. With Powell's and Yellen's talks regarding economic policy, the USD kept its strength and, importantly, no significant retracement took place.
We expect this to change this morning (EEST) and according to Fibo retracement level, the pair finally to retrace around 1.3590 the least. Usually the GBP gains momentum at 9:00-10:00 (EEST) during the London/European session.