GBP shorts are still in play, London entering tier two tomorrow
|I just got the alert that London is entering tier 2 of lockdown tomorrow and UK PM to make an announcement on London this morning. High volatility expected on the GBP today so heads up.
Technically speaking the downside for the Pound is still very much real. Let's take the GBP/USD. Yesterday's rally did take out weak shorts but we remain bearish below 1.30 and more so if price breaks the bear flag (green). Next key level for us is 1.27.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.