empty
 
 
21.10.2020 11:25 AM
Trading idea for the GBP/USD pair

This image is no longer relevant

The decline in the US dollar, which was brought by the news that a stimulus package could be signed in the United States soon, led to an upward move in the GBP / USD pair, thereby taking the quote out of the two-week narrow triangle.

This image is no longer relevant

And since the dollar has such a weak position in the market, any positive news from the UK could lead to the emergence of strong bullish impulses.

This image is no longer relevant

For example, any positive news related to Brexit, that is, the signing of a trade deal in particular, would push the pound to a price level of 1.35.

Of course, there is still the need to monitor the risks so as to avoid losing profit. As we already know, trading in this market is very precarious and uncertain, but also very profitable if we use the right approach.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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 $8000 more!
    In March we raffle $8000 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