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: 'Thorn' pushed the pair higher
There's a 'Thorn' pattern, which pushed the pair higher, but the 34 Moving Average has acted as resistance, so the price is consolidating. In this case, it's likely that the pair is going to reach the previously tested support at 1.2910 - 1.2854. The subsequent pullback from this area could lead to an upward correction towards the nearest resistance at 1.2946 - 1.2957.
We've got a 'Bearish Trap', so the price moved higher. Meanwhile, we should watch the closest support at 1.2913 - 1.2889 as an intraday target. If a pullback from this area happens next, bulls will probably try to achieve another resistance at 1.2971 - 1.2999.
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.