GBP Set For More Losses

The Pound seems to be set for more losses after already having lost momentum during early trading in this week. Growing Covid-19 cases and also pressure surrounding strained Brexit negotiations might add to the weakness and we could see a long-term bearish trend for the pound. Bearish momentum looking at the weekly candles points to more downside for now. So we’d like to sell GBPUSD at 1.2760 with SL at 1.3005 and TP at 1.2560.

Frank Walbaum

Recent Posts

Will Oil Turn Lower Again?

Posted on 11 November, 2020 at 13:39 GMT

XAG/USD to Explode?

Posted on 22 October, 2020 at 12:26 GMT

AUD/USD On a Downward Spiral

Posted on 20 October, 2020 at 16:17 GMT

Will Silver Bounce Back?

Posted on 24 September, 2020 at 15:03 GMT