EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
GBP: back to 1985
Information is not investment advice
Key indicators
Performance in 2020: -10%
Last day range: 1.2002 – 1.2271
52-week range: 1.1845 – 1.3350
Resistance
Currently, the GBP trades in the area of 1.1860 against the US dollar. The monthly chart below shows its historical performance. The resistance is located at 1.2655, which may seem too stretched even for a daily chart, but under the conditions the UK is now it is quite reasonable: GBP/USD was there not more than a week ago.
Support
A diligent trader will reproach the author for not zooming out the chart enough to show what the support of 1.1700 is based on. Unfortunately, MetaTrader 4 doesn’t allow zooming out enough to capture 35 years of GBP/USD performance and show where the pound was in 1985.
Wait… what?
Right. A 35-years low. Soviet Union was still there when the pound was this low. Why? Because of the coronavirus, Brexit, global assets dumped, the GBP dumped for the USD, bad weather, you name it. Therefore, there is quite no certainty on the next move by the GBP. But as usual: be amazed by what the market does, but don’t step away from your trading fundamentals. As bottomless a plunge as it seems, there will be a sure correction upwards – be there to catch it.
Similar
Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
EURGBP rose on dovish BoE
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Popular
EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
How Will Amazon Price React To The Split?
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
Can a recession be avoided?
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Choose your payment system
