It’s a tough situation now as it kind of feels like getting in now would be late to the party but every day everything is getting sold harder and harder. By the time I sort myself out it will reverse. I’ll be waiting for those buys though
GBPUSD
Again we are seeing returns to all time lows on many pairs especially where the USD now is being treated as a safe haven. Bear in mind that extremely strong pressure in one direction can be easily and swiftly reversed. Do not buy I’m early as there is no telling how the pandemic will continue to strangle the markets and wait for confirmations of reversal before judging your entries!
GBP has been hit hard by all this stuff going on. But ill say it again it is just creating cheaper prices for us to buy in at in many pairs
Looks like GBP is going to the ground at the minute can only see it getting worse.
Few weeks before we can buy I’d say…
It’s going to get worse before it gets better but the opportunity when it reverses will be huge!
Concur! Patience is key here. Get ready to pounce.
Cheers mate I’ll be looking for that turn around although it may take some time.
Glad i`m out of this pair long time ago.
GU ready for buy again imo
GBPUSD
Let’s keep things simple!
This pair has downside momentum on the 4hour chart and is trading below the 50 and 200 Simple Moving Averages. However, it is still holding above the 100 SMA. All in all, bears are in the lead.
Support awaits at 1.205, which provided support on Friday. The next level to watch is 1.2140, which was a cushion in late March. The psychologically significant level of 1.20 and 1.1980 are next.
Price currently resides at the whole level of 1.23500 and would be a good place to decide the next move. Rejection here would be a great short opportunity and a break to the upside would be a solid buy. Enjoy and happy trading!
Glaston - typo?
Nice analysis, will be keeping an eye on this pair. Risk management key as always!
I’m in on the buy. SL is in profit, letting it run…
I’ve got my eye on this one! Will enter once it shows a clear direction. Thanks for the analysis!
Tend to avoid GBP though USD weakness tempting. Might see virus curve drop in UK whilst U.S. cases ramp up towards end of week. Tech analysis on my charts also seem to support the move
Cheers keiran!
In the aspect of US hard times lately and in short future i think we can expect more gains for this pair.
AUDUSD
So… fundamentally speaking with China recovering from covid 19 we should see AUD and NZD making recoveries due to the exports and trade. This has been reflected lately with the AUD rise against the dollar despite the dollars safe haven status throughout the crisis.
Many fundamentals are discountable as for now as all news is bad news economically but if we look at some big picture projections we should see some long term bullish action.
A break of either highlighted level during this consolidation period should net us a decent move and an easy 1:3 ratio. Happy trading guys
Good shout, heading in the right direction even though I’m on the Sell