GBP/USD Technical Analysis for September 8, 2020 by FXEmpire

by birtanpublished on September 11, 2020

from fx empire this is chris taking a look at the british pound us dollar and as you can see the market has gapped lower fell hard to show itself uh

To be negative but this is probably more of a scenario where this is a reaction to the news over the weekend that the uk may leave the eu without a deal blah blah blah we've

Heard this story before and really at this point who cares if they do or don't um you know we pay attention to what's going on in the charts 130 is going to be a crucial support level

Keep in mind low liquidity americans didn't even come to work today this is labor day so you know there's been a little bit more deeper selling in the north american session that would be canada

At this point though it's very likely to see a bit of a balance so i simply am just waiting for some type of bounce on a short-term chart maybe taking advanti advantage of that if we do break down

Below 130 then we have to reset somewhere around 127 and a half i'll be looking to buy again uh trends most decidedly up it's all about the dollar the federal reserve nobody cares about anything else

At this point brexit may become a little bit more important later in the year but it's still a little early for that to suddenly take things over again

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