GBP shorts are still in play, London entering tier two tomorrow

Orlando Gutierrez Learn 2 Trade

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.

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Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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