Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Tag - gbp
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
Almost all currencies have loosened against the greenback today, but the GBP keeps rallying. How is it possible?
Investors want to trade riskier, and dire economic and virus background doesn't stop that. The USD will testify.
The NFP brought good figures last Thursday, but the spike of infections in the US keeps suppressing the risky momentum.
Does the British pound have anything to say against the USD?
Does the pair still have the potential to the upside?
Investors are still indecisive between the second wave virus fears and smoother recovery hopes, so we have unsure shaky risk-on spots at a generally mixed market background.
2020 is the final year of Brexit. Will the GBP improve once it's over?
The USD lost it's value across the board as the market got risk-on mood back; at the same time, gold climbed to $1,770 paving the way to $1,800.
EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support.
Mixed messages from the US policymakers and mixed market sentiment. Watch the video to great ideas for trading in such an environment!