GBPUSD

Remarkable turn-around for Cable.

Macro / Fundamentals wise, it's still a tough call: fear, demand for greenback, and ironically, removing interest rates along with fiscal and monetary bazookas (which have created a new line in the sand to build strength from) vs Central Bank swap lines to weaken demand.

Technical, whether this is a bull flag or a mini-penant, it still looks bullish.



Good Luck People (trading aside, please do stay safe and do your bit - this virus is banking on a mistake or an oversight, an act of carelessness...)

Well this is confusing / interesting / tough to trade?

1. We've got a death cross formed (or forming depending on the platform I guess!)

2. We've got an inverse head and shoulders on the RSI (does this even work?)

On the macro front we've got fiscal and monetary policy working in tandem to weaken the USD, but against a fearful backdrop of FEAR, which is bullish for the USD. Lastly, you've got a Pound on its way to be pseudo-EM currency in about nine months, as it loses its "protection".



So, where will this go?

Libero wrote: Not the comeback of the century, but certainly the comeback of the week.

absolutely....good call....i didn't expect that shows what i know

atb
trendfriend

Not the comeback of the century, but certainly the comeback of the week.

Trendfriend wrote: Had a stop in place... while I went for a run...
Good job it was placed in profit... some fish and chips money... here as well Libero!

Atb,
Trendfriend

Harry Ramsden, your finest cod n' chips please!

1.20 is holding strong (as you said, what was firm support, has become firm resistance), but I'm still thinking that dollar softness could bite. The G20 will demand a weaker dollar or enhanced swap lines.

(whatever happened to a free market - free from meddling hands eh? )

Stay Safe!

Had a stop in place... while I went for a run...
Good job it was placed in profit... some fish and chips money... here as well Libero!

Atb,
Trendfriend