GBPUSD Daily Outlook – On Tuesday the U.S. housing starts posted a record decline, and over 4 million Americans are now skipping their mortgage payments.
The Fed’s Powell to urged the Congress to ‘do everything’ it can to help those suffering during the pandemic, the UK jobless claims soared by nearly 70% in April, and Trump Threatened to Permanently Cut Funding to World Health Organization… out of all the things that he could be doing.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Wednesday we’ll be looking at the UK Eurozone and Canada’s inflation rates, as well as the US FOMC meeting minutes.
Today I’m looking at the GBP/USD pair which has completed phase 2 of the Ichimoku cloud bearish signal. Basically, the pair broke below the daily Ichimoku cloud on May 13th, then had a correction towards the cloud in the past three days.
Normally, the Ichimoku cloud indicator suggests from here we could see further drops and the current market price at around 1.23 is an interesting level for shorting the pair.
From here we could see the pair dropping to around 1.20. Do you think the GBP/USD will drop more? Head over to the Comments section and let me know.
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