News of the day, Tuesday, 25 January
Foreign enterprises operating in China became very vulnerable with the new Omicron variant spread. China’s strict localized lockdown strategy has been showing a delightful performance so far, but that was an “old” COVID-19 case. The contagious Omicron might cause more lockdowns. Surely, they …
The GBP/USD pair traded with strong negativity yesterday, to achieve our first extended target of 1.3460 and try to break it, affected by the previously completed double top pattern, waiting for more decline to visit 1.3400 as a next corrective station.
Therefore, we expect the bearish bias to continue in …
The descendant truncated wave structure of the H4 level has finished with breaching the inclined channel. Awesome Oscillator indicates bullish divergence. The entry point is forming on the correction wave B.
Trade idea:
Buy when breaching 1.1335.
Stop loss below the support level 1.1288.
Target levels: 1.1420; 1.1480.
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