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| GBP/USD, four-hour chart, source:FXDD.com |
cf. [USDX] Correction After Rising 2020 0111
cf. [EUR] Euro expected to Though Iranian Attack 2020 0109
cf. Expecting Euro and Sterling to Rise 2019 1230
British Pound fell and made the short-term downward trend. It is needed to watch with short bias.
One of major currency pair, GBP/USD is on the support line which was the resistance line in last November, but it is not certain the line does well.
Pound is trying to build Double-tops pattern in daily chart. It may be retreated to 1.2827 which is 120 exponential moving average and second support line.
In four-hour chart, the price tries to rebound on the support line, but it doesn't give strong trust. So we need to watch the chart whether pound is supported by price band of 1.29199 to 1.29650.
British GDP released on Monday was -0.3 percent and it was worse than expected growth 0.0 percent. It led sterling downward. The easing tension between the United States and Iran supported supported the risky asset and currencies. Euro rose due to it. But sterling failed to be supported because there is still Brexit risk. London decided to leave Europe in this month, it doesn't make clear British economy, yet.
Gjallarhorn has long position of euro. It records loss, now.
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