EUR/USD and GBP/USD Forecast October 5, 2020

by birtanpublished on October 27, 2020

from daily forex this is chris taking a look at the euro and the pound you can see the euro has fallen a bit during the trading session here on friday as there's more of a risk off appetite type of situation out there the markets are likely to see a lot of um fears out there trump getting the coronavirus concerns about the global economy slowing down i mean all of this to me makes sense that the

U.s dollar should strengthen and perhaps go to 116 and if we can break down below their 115 and quite frankly even if we fall to 115 that's still just a nice pullback from a pretty significant rally so there's a little bit of something for everybody on that chart the british pound to me it's all about 130 and my trigger price is 130 50 on a daily close then i think you have a good shot at going to 135 eventually

The biggest problem with this pair is that there's so much noise out there involving brexit you can also make an argument for a bit of a descending channel so the next move could be lower i don't know truthfully it's you know these two pairs that you're on the the pound tend to move in the same direction but not always so we'll see but it's obviously fairly resilient here in this area as people wait um you know for the good news out of brexit now we have

Seen that movie before and have been burnt by it more than once so i think a lot of people are very cautious about this and i certainly would be you

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