Tickmill's Investing Diva, GBPUSD Daily Outlook 18-02-20
GBPUSD Daily Outlook - On Monday after hours, which basically was Tuesday morning during the Asian trading session, the RBA knocked the Aussie dollar off as it said even though the rates at a historic low, they could go lower if needed.
The Official Cash Rate was kept at its 0.75% record low.
On Tuesday’s London session we have the Euro-Zone ZEW Survey for February.
Today I’m looking at the GBP/USD pair which remains below the daily Ichimoku cloud and has recently completed its pullback.
The future cloud is getting thicker on the bearish side.
The highs have been getting lower in the past couple of months, so the technicals and the sentimentals are pointing to further drops potentially towards the key Fibonacci retracement levels at 1.29 and 1.274 respectively.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.