GBP/USD Big Swings as Volatility Kicks In
November 5, 2020
2 min read
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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