Tickmill’s Investing Diva, GBPUSD Daily Outlook 01-04-20
<p>GBPUSD Daily Outlook – On Tuesday the U.S. Treasury yields mostly saw modest gains with the continued uncertainty around the depth and duration of the COVID-19 pandemic, and consumer confidence fell sharply in March. Canada’s GDP for January edged up 0.1%, but that’s before COVID-19 got out of hand… UK business confidence crashed in the second week of March and we found out that the UK economic growth flatlined even before coronavirus hit country.</p>
<p>On Wednesday we’ll be looking at Canada’s PMI and the EU ISM employment and manufacturing data…</p>
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<p>Today I’m looking at the GBP/USD pair which has been stuck below the 50% Fibonacci retracement level of 1.24 after it started its recovery from all-time low levels of 1.14 last week…</p>
<p>The sentiment remains mildly bearish but I wouldn’t bet on big swings yet… As the volatility continues, short-term positions between key Fibonacci retracement levels could be lower risk…</p>
<p>Do you think the GBP/USD pair will revisit 1.14? Head over to the Comments section and let me know.</p>
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