GBPUSD The Price Will Fall In Coming Days
GBP has weakened substantially since the coronavirus outbreak began with GBPUSD reaching lows not seen since 1985 in March as the market's strong risk-off tone and the UK's large current account deficit resulted in many participants moving out of GBP and into safer currencies - most notably USD.
Bank of England - Monetary Policy in the UK remains highly influential to GBP's fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative.
Plan:
-Wait For Re Test Of Key Levels 1.248-1.247
-Detect They Key Levels At Minos Time Frames (1H - 4H)
-Wait for the correct time after the breakout and open positions
-Targets Should be at:
-1.224
-1.215
-1.21
-1.205
-Remember Risk Management is the key
GBP has weakened substantially since the coronavirus outbreak began with GBPUSD reaching lows not seen since 1985 in March as the market's strong risk-off tone and the UK's large current account deficit resulted in many participants moving out of GBP and into safer currencies - most notably USD.
Bank of England - Monetary Policy in the UK remains highly influential to GBP's fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative.
Plan:
-Wait For Re Test Of Key Levels 1.248-1.247
-Detect They Key Levels At Minos Time Frames (1H - 4H)
-Wait for the correct time after the breakout and open positions
-Targets Should be at:
-1.224
-1.215
-1.21
-1.205
-Remember Risk Management is the key
-1.215
-1.21
-1.205
TP Smashed Just missing 1.205