GBP/USD Big Swings as Volatility Kicks In

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/USD is bullish and we can see big swings happening. This is expected as the GBP is very volatile during the crisis period.

As already explained, we have a triple crisis. US elections, BREXIT and COVID-19.  Headline risk is big for the pound. Judging from the latest movements, I expect the GBP to go further up.

1.2900-20 is the POC zone. Any retracement might be used for a fresh buying. If the price closes above 1.3045 we will possibly see a continuation up. Targets are 1.3109 and 1.3148. For me, today is buying the dip.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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