Despite the
small move to the upside during the past two days GBP/USD formed shooting star
on the daily time-frame and then started falling, breaking below the support at
1.4990 and forming a new low. I expect that the move to the downside will
continue and the pair will eventually test the support at the previous low at
1.4565. That said, tomorrow is the ECB press-conference and on Friday we can
expect the US change in Non-farm payrolls, two events that always have a great
and sometimes unexpected effect on the market so I would be very careful while
trading in the next two days.
Interesting analysis indeed.
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