GBPUSD Daily Outlook On Tuesday, the U.S. residential construction recorded a record decline, and 4 million Americans skip are now your mortgage payments.
The Fed’s Powell, to be called on the Congress to do everything it can to help the suffering during the pandemic in the UK, initial jobless claims have increased by almost 70 percent in April, and He Threatened Constantly Cutting funding to the world health organization… of all the things he could do.
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On Wednesday, we are looking for the UK, euro area and Canada, the inflation rate, as well as the US FOMC meeting minutes.
Today I am looking at the GBP/USD pair, which has completed phase 2 of the Ichimoku cloud is bearish signal. Basically, the pair of 13th broke below the daily Ichimoku cloud on may, then a correction in the direction of the cloud in the past three days.
Normally the Ichimoku cloud is an indicator fails from here, we could see further decreases, and the current market price at around 1.23, it is an interesting level to short the pair.
From here we could see the pair drop to around 1.20. You think the GBP/USD, will it drop more? You go to the comments and let me know.
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