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Bulls remain in control despite Brexit tensions – GBP/USD Market Outlook – 04/12/2020

The pound resumed its overall bullish trend, reaching our 1.3450 target, despite new Brexit tensions. According to Sky News, Brexit talks are going backwards and hopes of any development in today’s meeting is missing, postponing the deadline for reaching a deal until Monday. However, despite Brexit uncertainty, the overall market optimism is overshadowing any Brexit concerns for now and price structure remains bullish for now. As a result, we remain in favor of buying dips, ideally if price retraces back towards the 50-SMA.

Support: 1.3430 / 1.3290
Resistance: 1.35/ 1.3550

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Friday, 04 Dec, 2020 / 8:59

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