Monday, June 27, 2022

GBP USD Descending Channel

GBP USD is moving in a descending channel for a long time by forming lower highs, lower lows.

We are expecting breakout from this channel range soon.

Brexit trade talks will continue this week between the EU and the UK.

Both countries may talk smoothly in their trade deals. the main agenda of the topic is Fisheries, the role of the European Court of Justice (ECJ), and competition rules. the soft outcome of talks may push sterling higher.

UK Prime Minister Boris Johnson expected to publish a new infrastructure plan on Tuesday due to economy faces a slow growth of COVID 19 pandemic virus issue.

He announces plan to build a new hospital, schools, housing developments, road and rail projects to boost up a UK economy.

Expecting Pound to get stronger soon.

GBPNZD Descending Triangle Support

GBPNZD bouncing back from the support of descending triangle

GBPNZD is moving in a downtrend for a long time.

Lower highs, Equal Lows are formed recently on GBPNZD.

After GBPNZD reaching the support zone 1.9140, it starts to bounce back.

GBPJPY Up trend Analysis

GBPJPY reached the bottom zone of the Up Trendline

GBPJPY moving in an Uptrend by forming Higher highs, higher lows in the daily chart.

Since from previous week, Pound still standing at the higher low of the Uptrend line.

It’s trying to break. However, the breakout or reversal not yet confirmed.

Global coronavirus caused around 500,000 deaths until now. It may risk the economy to decline further.

covid 19 total cases status on june 29 2020

The US must move in a slow approach of easing lockdown because several US states hated to reopening economies in this pandemic situation.

On Tuesday Fed Chairman Jerome Powell whether giving further stimulus to economy will take more risk on balance sheets.

Business and consumer confidence data on Euro Zone may rebound this week from 2009 reading.

US pentagon shows a list of 20 communist Chinese military companies operating in the United States on JUNE 24, may controversial in Huawei technologies.

After these lists showed by the US, China retaliates on US tech giants APPLE, Tesla, Qualcomm companies.

Both democrats and republican parties mainly focused on US-CHINA relationship campaign in forthcoming elections, hence it is better to avoid risk associated asset purchases.

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