European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
GBP/USD: market plunged because of 'V-Top'
The market has plunged because of the last 'V-Top' pattern. The main intraday target is the next support at 1.2830 - 1.2796. A pullback from this area could lead to an upward correction towards the nearest resistance at 1.2921 - 1.2953.
All the Moving Averages have been broken, so the price is declining. It's likely that the pair is going to test the closest important support at 1.2830 - 1.2796 within the next few hours. If a pullback from these levels happens little later on, there'll be a green light for a bullish correction.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.