Jan 13 2021 0
USD suddenly dropped again in the last session, leading to noticeable changes on other currency pairs.
- BoE also said that it is too early to draw any conclusions about a new stimulus package. Mr. Baily hopes that there will be more evidence in the coming weeks, saying the BOE needs to consider how the economy reacts after Brexit and the latest blockade measures before the central bank can bring make any decisions;
- Democrats will give President Donald Trump one last chance on Tuesday to leave office a few days before his term expires or face an unprecedented second impeachment;
- The Democratic-led House of Representatives plans to vote Wednesday at the earliest on official allegations of misconduct, known as impeachment articles, unless Trump resigns or Vice President Mike Pence move to depose him under a provision of the US Constitution;
As expected of the return of the sellers, the price around 104.2 was held, the selling was overwhelming and created a set of bearish engulfing candles on the daily frame. You guys have entered the order to continue holding, moving SL to reduce risk, if not, you can consider short in order to form, the target for this decline is around the support zone 103.
As warned about profit preservation in case the price adjustment increases before continuing to go down. Price is retesting the 1.220-25 conversion zone, what we can expect is a reliable bearish signal to return to the downside, brethren!
Most of our previous short positions have been stopped as the price bounced up sharply and re-tested the 1.37 zone. Conditions are no longer favorable for us to continue to trade GBPUSD, brothers waiting for more new price action around the 1.37 zone for more analytical information.
Early buy orders have been negative, we have to wait for the next movement. In case the price makes bullish signals around the current zone, you might consider long positions, which could be the last stop for you to do this, in case the price bottomed out 1.265. I will abandon buying tactics entirely.
The price has bounced back up without breaking the downside channel as expected, this price action is seriously threatening our short positions. Today's session should pay attention to the 0.78 confluence area, if this zone falls, the possibility of price return to the uptrend is very high. However, trend followers should not rush to buy in in case the price breaks the false threshold.