Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
EUR/GBP: bullish momentum has declined
Information is not investment advice
EUR/GBP formed a candlestick with a long upper wick on W1 - a bearish sign. Daily Awesome Oscillator is going down. The pair formed a lower high and may slide to 0.8890 and 0.8860 (23.6% Fibo of May-June advance). Only above 0.8930 the pair will be capable for a small upside.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
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US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19