GBPUSD Daily Outlook 01-09-20 – On Monday Fed’s Clarida said the rates won’t rise just because unemployment falls, Canada’s quick initial rebound in consumer confidence showed signs of slowing, suggesting there’s a long road ahead for a full economic recovery from the pandemic, and the UK said it’s ready to walk away from Brexit trade talks if Brussels does not drop its demand to align with EU state aid rules.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Tuesday we’ll be eyeing Australia’s interest rate decision, the German jobs report, the US ISM Manufacturing PMI (AUG), and Australia’s GDP growth during the next day’s Asian session.
Today I’m looking at the GBP/USD pair which is continuing its march up towards the pre-pandemic highs of 1.35, and has already broken above the 1.33 resistance. We still don’t have evidence that the pair could go any higher than this, so I’d stay in wait-and-see mode to see if this resistance zone is going to be strong enough to change the current bullish trend and push the pair back down.
Do you think the pair’s gains will be capped here?
Head over to the comments section and let me know.
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