GBPUSD - ready for another week

As we can see on the daily we have broken out of our bearish trend, 3rd touch of this produced over 100 pips and would have been a nice trade to have got on. Now we have broken clearly through this we are waiting for a retest of this level before potentially getting into a buy position.

With the election count coming ever closer to an end it would appear Biden will take the win which we anticipate will shake up the US economy as he puts his own policies and ideas into play. This should see the £ push up.

Of course we will wait for confirmation before entering, by means of a retest of this trendline, previous structure showing support.

Let's see what next week brings us