
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.
2019-11-11 • Updated
Trade ideas
SELL 1.2645; TP 1.2600; SL 1.2665
GBP/USD got once again rejected down from 1.2760. The 50-day MA is having a bearish bias and creating further resistance at 1.28. On H4, we see that support is provided b the 50-period MA at 1.2650. The decline below this level will confirm a temporary top and open the way down to 1.26.
Resistance lines in the 1.2715/25 area. Only above these levels GBP/USD may once again try to retest this week’s highs.
The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.
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