BOE declaration together with civil unrest pertaining to COVID is rife on social media. The fundamentals reflected on the H1 and H4 charts with a slide below the pivot. There was a mild struggle that staggered into a drunken ranging.
Mildly propping the UK include the positive Initial jobless claims , without which, we might see the Cable 50 pips lower.
Note that the Bank of England's 100 billion bond purchases implied lowered priority for relief initiatives- something the people desperately needed
GBPUSD continues to languish below the H4 Allligator lines and corroborated by a strong H4 ADX trending -45. It had also breached the 200 period WMA to the downside.
I expect the Cable to hit Support 1 by end of Friday today June 19, and if it breaks through support, should conceivably drop 200 pips by June 26.
Let me know your sentiments
Mildly propping the UK include the positive Initial jobless claims , without which, we might see the Cable 50 pips lower.
Note that the Bank of England's 100 billion bond purchases implied lowered priority for relief initiatives- something the people desperately needed
GBPUSD continues to languish below the H4 Allligator lines and corroborated by a strong H4 ADX trending -45. It had also breached the 200 period WMA to the downside.
I expect the Cable to hit Support 1 by end of Friday today June 19, and if it breaks through support, should conceivably drop 200 pips by June 26.
Let me know your sentiments