Last night we saw major USD pairs rally when PBOC bought some of its stocks and Trump's remarks on Fed Powell's rate hikes.
Today we expect USD pairs to continue its bearish trend before reversing. It broke upwards the lower trendline of the bearish channel during the fundamental effect of last night's news, but as long as 90 EMA holds, we are still bearish on the pair.
GBPUSD is at a horizontal resistance now, just below the 90 EMA on 4 hour timeframe. Failure to break above this will push us to go short on the pair.
Entry, stop loss, and take profit levels are indicated in the chart.
Trade at your own risk!
Today we expect USD pairs to continue its bearish trend before reversing. It broke upwards the lower trendline of the bearish channel during the fundamental effect of last night's news, but as long as 90 EMA holds, we are still bearish on the pair.
GBPUSD is at a horizontal resistance now, just below the 90 EMA on 4 hour timeframe. Failure to break above this will push us to go short on the pair.
Entry, stop loss, and take profit levels are indicated in the chart.
Trade at your own risk!
Trade active:
Opened at 1.2740
Trade closed: stop reached
