GBP/USD- Downward move Ahead

FX:GBPUSD   British Pound / U.S. Dollar

Britian have failed to strike a trade deal with the USA due to Covid and that being a priority currently- however, this was something that they were relying on after Brexit. Therefore, there may be downward pressure on the Pound.

Response to the outbreak was rather lackluster and a Brexit deal is looking more unlikely with the EU prioritising their response to the outbreak as well.

Britain is therefore in No Mans land in terms of economic ties until the outbreak blows over.


Rally has been halted at a KEY FIBONACCI level, we can expect great downward pressure

Key traditional Resistance area , if we don't get a candle above the rectangle we can expect a downward move.

Megalodon Whales (Rahim)

You are welcome to share your ideas below and post your own chart, trade safe :)



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