GBP - BEARISH
1️⃣ Bank of England Governor Bailey told the British Chambers of Commerce that the recent rise in COVID-19 cases "reinforced the downside risks" facing the UK economy. UK imposed new restriction measures to curb the spread of the virus, which could be in place for six months.
2️⃣ The prospect of a chaotic end to the Brexit transition period in December continued to worry investors as negotiations between the UK and EU have stalled without a deal.
3️⃣ The IHS Markit/CIPS UK Composite PMI dropped to 55.7 in September 2020, from August's six-year high of 59.1 and compared to market expectations of 56.3.
USD - BULLISH
1️⃣ House approved a bill to keep the government funded through December and avoid a shutdown before the election.
2️⃣ The US currency also found support after Fed's Evans struck a hawkish tone by noting that the central bank could raise rates before inflation averages 2%.
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TECHNICAL
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- We short this pair on SBR level on H1 chart.
- GBPUSD still in bearish zone.
1️⃣ Bank of England Governor Bailey told the British Chambers of Commerce that the recent rise in COVID-19 cases "reinforced the downside risks" facing the UK economy. UK imposed new restriction measures to curb the spread of the virus, which could be in place for six months.
2️⃣ The prospect of a chaotic end to the Brexit transition period in December continued to worry investors as negotiations between the UK and EU have stalled without a deal.
3️⃣ The IHS Markit/CIPS UK Composite PMI dropped to 55.7 in September 2020, from August's six-year high of 59.1 and compared to market expectations of 56.3.
USD - BULLISH
1️⃣ House approved a bill to keep the government funded through December and avoid a shutdown before the election.
2️⃣ The US currency also found support after Fed's Evans struck a hawkish tone by noting that the central bank could raise rates before inflation averages 2%.
=====
TECHNICAL
=====
- We short this pair on SBR level on H1 chart.
- GBPUSD still in bearish zone.
Trade closed: target reached