We have outlooked several promising Forex pairs and the result can surprise you!
GBP/USD: we are still selling
Information is not investment advice
GBP/USD is trading below the weekly pivot level at 1.2707. The pound is under pressure as the political future of the UK remains uncertain after Prime Minister announced that she would step down on June 7.
The pair formed a “dark cloud cover” pattern on the daily chart. It’s a sign that bears remain active and sell the pound on its attempts to correct higher. The sterling may retest the 78.6% Fibo level at 1.2625. The fall below the latter will open the way down for an even bigger decline to 1.25.
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
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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.