GBPUSD technical and fundamental analysis

21 thg 9, 2020

FUNDAMENTAL:

United Kingdom:
The Bank of England has said it is looking more closely at sub-zero interest rates.
With the tripling of the number of coronavirus cases, the UK economy is facing unemployment and problems with the Brexit agreement.
Lower interest rates increase liquidity and increase commodity prices, thus reducing the value of the currency.
There is a principle in capital markets, which says, "Buy in the time of gossip, sell in the time of reality."

United States :
The US commodity price index has reached a strong resistance.
Treasury bonds are likely to rise.
As a result, the dollar strengthens.
US economic indicators have weakened in the past week, and that will raise concerns.
US economic indicators for next week should be carefully examined.



TECHNICAL:

In the diagram you see, I used the (SPEEDLINE) technique.
I use this technique to determine the speed of the process.

If you are not familiar with this technique, let me give you another diagram:



You can see the price channel trend in this chart.
This price channel has been broken by a powerful candlestick .
The price has returned, the main trend line of the channel has become a resistance for the price.

I used another technique to confirm that everything is ready for sale.
I used the "hand fan" technique
Points 1, 2 and 3 are the points of my technique.
Breaking the trend line of zone 3 is another confirmation of this pattern for price reduction.

Check the news and economic factors carefully.

Good luck