Hit a very strong daily level, and on the 4 hour we can see that it is extremely oversold. I would be very surprised if this level cut through like a knife. I am expecting a rally to the breakdown level which is 1.214, but we may possibly have seen the bottom here as bullish divergences are forming across most time frames now.
We are witnessing a great depreciation of the USD DXY Dollar Index before our very own eyes. Currencies like GBP and EURO are set to rise heavily against USD.
Bitcoin might just be the perfect hedge to combat the dollar inflation that is upon the American economy as it is battered by the virus with only hope of reviving it, more stimulus.
Much like its brother GU, GBPJPY is ready to test the highs again. Only reason it is not trading at 140.xxx at the moment is due to JPYUSD being strong.
GBPJPY will continue to hold its own as a JPY pair due to optimism in finally resolving the EU-Brexit deals once and for all.
Continue to buy 40-60 pip dips on EURUSD until 1.25 and bank...don't listen to the autistic EU bears who are oblivious to trading the weekly and monthly charts.
