GBP/USD looks to extend its bounce towards 1.3300 heading into the UK Retail Sales release. The annualized British spending is seen higher by 4.2% in October vs. 4.7% previous. DXY resumes drop amid Fed-Treasury clash on emergency funds.
The British Pound fell on Thursday. It is now 1.32178. The US Dollar is slightly stronger today due to the rising number of virus cases being reported. There is no economic data expected from the UK today. The United States will post unemployment and housing data later today. There is still no official news on the post-Brexit UK-EU trade agreement but rumors remain that a deal will be struck soon.
Time Frame: 1 hour
|Support & Resistance||Level||Explanation|
|Resistance 2||1.3302||Daily R2|
|Resistance 1||1.3276||Daily R1|
|Support 1||1.3206||Daily S1|
|Support 2||1.3180||Daily S2|
|Stochastic ( 9;6;3)||Buy|
|Indicator / Period||Day – Buy||Week – Buy||Month – Buy|
|BUY||Simple Moving Average Buy (3) Sell (0) Technical Indicators – Oscillators Buy (2) Sell (1)|