Tickmill’s Investing Diva, GBPUSD Daily Outlook 02-07-20

Feb 7, 2024 - 10:51

GBPUSD Daily Outlook 02-07-20 – On Wednesday the U.S. Mortgage demand falls for the second straight week, signaling a potential slowdown in the housing recovery, and employers announced an additional 170K job cuts in June. In the UK manufacturing stabilized in June following severe COVID-19 downturn. Switzerland saw a significant recovery of the service PMI in June. Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the <a href="https://www.youtube.com/channel/UCygXlFW43dWBKnNty1s-W_g">Tickmill YouTube channel</a> and support us by liking and sharing this video with your forex trading friends. On Thursday we’ll be looking at Canada’s trade balance, the US non-farm payrolls, and the UK consumer confidence for June. <iframe src="https://www.youtube.com/embed/nrXEwmSGTxg" width="100%" height="481" frameborder="0" allowfullscreen="allowfullscreen" data-mce-fragment="1"></iframe> Today I’m looking at the GBP/USD pair which was successfully supported by the Ichimoku cloud on the daily chart the beginning of the week and is bouncing back up. The bullish sentiment appears to be strong enough to carry the pair back up to at least the previous high and 38% Fibonacci retracement level of 1.27 in the medium term. A significant trend change seems unlikely at the moment. What are your thoughts on the GBP/USD price action in July? Head over to the comments section and let me know. Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company. High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The post <a rel="nofollow" href="https://blog.tickmill.com/fund-analysis/tickmills-investing-diva-gbpusd-daily-outlook-02-07-20/">Tickmill’s Investing Diva, GBPUSD Daily Outlook 02-07-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.

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