GBP/USD Video 09.07.20
The British pound has been a bit difficult to trade because all common sense would tell you that it should be going lower, but I think at this point it is obvious that currency traders are only focusing on the Federal Reserve, and its loose monetary policy. If that is going to be the case, it will continue to support the British pound which is seen a little bit better news coming out the United Kingdom, but it is still rather weak in general.
Furthermore, you have to worry about Brexit when it comes to trading the British pound, so that is something that also comes into play. Keep in mind that there are plenty of headlines that could cause issues for the British pound so if that is going to be the case it is only a matter of time before we get the occasional pullback. Once we break out of these couple of moving averages, then I can place a trade with a little bit more confidence.
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