GBP/USD bull run for next week 5-9 july
Notes on news
After NFP data published, USD fades on bull potential as expectations for fed to change rates are rejected due to unemployment data.
British covid on rising, BOE speech signaled that it does not directly attribute to decline in economy growth.
Technicals
-Matching data with past rebound has the potential to test 1.4000 mark in the next coming 2 weeks, above could lead to an overbought situation and can snap back
-1.38000 resistance breakout signifies the end of bear trend for GBP/USD
-Potential buy-in area at 1.381/80 as adjustments are expected on Monday before continuation of bull run
-watch close for the test of 1.3900 marks expected on Tuesday 13 july
After NFP data published, USD fades on bull potential as expectations for fed to change rates are rejected due to unemployment data.
British covid on rising, BOE speech signaled that it does not directly attribute to decline in economy growth.
Technicals
-Matching data with past rebound has the potential to test 1.4000 mark in the next coming 2 weeks, above could lead to an overbought situation and can snap back
-1.38000 resistance breakout signifies the end of bear trend for GBP/USD
-Potential buy-in area at 1.381/80 as adjustments are expected on Monday before continuation of bull run
-watch close for the test of 1.3900 marks expected on Tuesday 13 july
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