19.11 - GBP is still surprising us.
- by Anna K.
Weird things are happening in the markets right now. Last week we couldn’t stop praying for USD to be knocked down a bit and it seems that our prayers were finally heard. But was it all worth it? USD looks so unattractive right now, that I even feel sorry for it. It seems that there is no way that the greenback is going to find its traders any time soon. That is why we have to focus on the couples where it is not the major currency. And, weirdly, GBP comes to our rescue.
Yes, yes. Good old pound that we were trying to stay away from for the last couple of months now looks better than USD. Even despite the fact that yesterday Boris Johnson expressed his fears on Brexit slowing down and damaging British economy. But, for some reason that is not stopping us from investing into GBP/USD couple, even despite the fact that we saw a little retracement in the chart yesterday.
GBP firmly tests resistance level these past few days. That can only mean growing risk hunger. Is that good? Well. The more euro and pound are getting our attention, the better the situation in the world is. The higher the demand is for these currencies, the less we are interested in safe havens. And of course little interest in safe havens only means improving outlook on overall global situation.
Can this be it? Well, of course! I would watch GBP/USD very closely today and tomorrow.
And watching a couple closely is so much easier to do with trading signals, isn’t it?