GBPUSD Market Overview
GU gained some strong traction Wednesday due to some massive USD selling.
The upbeat market mood is definitely a key factor in weakening our beloved Greenback!
Not to mention, I find it interesting that the uptick in US Bond Yields didn't relieve our friendly BULLS.
The UK possibly gained some strength due to their Vaccination Drive and from the UK Central Bank pushing back expectations for negative interest rates.
Our Safe-Haven USD definitely weakened after this recent MONTHLY US JOBS REPORT, which have raised questions on how fast the US can recover from an economic standpoint.
COT DATA has shown some interesting activity as well, check out my technical analysis and see what story price action is communicating with us in regards to some short terms moves right now.
The upbeat market mood is definitely a key factor in weakening our beloved Greenback!
Not to mention, I find it interesting that the uptick in US Bond Yields didn't relieve our friendly BULLS.
The UK possibly gained some strength due to their Vaccination Drive and from the UK Central Bank pushing back expectations for negative interest rates.
Our Safe-Haven USD definitely weakened after this recent MONTHLY US JOBS REPORT, which have raised questions on how fast the US can recover from an economic standpoint.
COT DATA has shown some interesting activity as well, check out my technical analysis and see what story price action is communicating with us in regards to some short terms moves right now.
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