empty
 
 
22.10.2020 01:23 PM
GBP/USD analysis for October 22, 2020 - Potential for strong rally towards 1.3300. Breakout of the trading range happened yesterday....

There isn't much else besides the headline comment for now, and it is likely he won't be touching on policy at all in the panel discussion today as it pertains more towards sustainable finance and climate change.

Cable trades at 1.3117 currently, off earlier lows of 1.3084 as the greenback keeps steadier on the session but not really significantly retracing its losses yesterday - for now at least.

Further Development

This image is no longer relevant

Analyzing the current trading chart of GBP/USD, I found that the buyers are in control and there is the breakout of the consolidation, which is good sign for further upside movement.

1-Day relative strength performance Finviz

This image is no longer relevant

Based on the graph above I found that on the top of the list we got Ethanol and Sugar today and on the bottom Lumber and Orange Juice.

Key Levels:

Resistance: 1,3175 and 1,3300

Support level: 1,3080

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback