GBPUSD - NEUTRAL - fib retrace
technicals -
4h is trending up with the 14ema and 50sma both providing confluence as confirmation. - however after a big push up we may be seeing a retracement about to unfold.
moving to LTFs (15m) price is consolidating after finding support at the 62% level. i will be waiting for a break above the box to go long but also watching the 4h, this is because if price breaks to the downside (15m chart) out of the range we can expect the 4h to make a minor pullback in which case i will look to go short on LTFs.
fundamentals -
the US appears to be in chaos atm as well as the covid pandemic taking a toll on the dollar, so we should see the pound continue up as the dollar may decrease its value because of mr trump and what is happening with the news.
4h is trending up with the 14ema and 50sma both providing confluence as confirmation. - however after a big push up we may be seeing a retracement about to unfold.
moving to LTFs (15m) price is consolidating after finding support at the 62% level. i will be waiting for a break above the box to go long but also watching the 4h, this is because if price breaks to the downside (15m chart) out of the range we can expect the 4h to make a minor pullback in which case i will look to go short on LTFs.
fundamentals -
the US appears to be in chaos atm as well as the covid pandemic taking a toll on the dollar, so we should see the pound continue up as the dollar may decrease its value because of mr trump and what is happening with the news.
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