GBP - Strong Bearish
1️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol.
2️⃣ British Prime Minister Boris Johnson on Tuesday announced an increase in National Insurance contributions in the form of health and social care collections by 1.25%, which will be implemented from April 2022.
3️⃣ Industrial production in the UK is expected to decline following the resurgence of COVID-19 cases in the country.
USD - Strong Bullish
1️⃣ Risk-off sentiment in the market benefits safe-haven currencies.
2️⃣ The rising in U.S. Treasury yields supports the strength of the U.S. dollar.
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Technical
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We are selling the GBPUSD after it breaks previous support and now becomes resistance.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol.
2️⃣ British Prime Minister Boris Johnson on Tuesday announced an increase in National Insurance contributions in the form of health and social care collections by 1.25%, which will be implemented from April 2022.
3️⃣ Industrial production in the UK is expected to decline following the resurgence of COVID-19 cases in the country.
USD - Strong Bullish
1️⃣ Risk-off sentiment in the market benefits safe-haven currencies.
2️⃣ The rising in U.S. Treasury yields supports the strength of the U.S. dollar.
=====
Technical
=====
We are selling the GBPUSD after it breaks previous support and now becomes resistance.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
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+40 PIPS