Analyst
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1876.80 with take profit at 1884.72.
Alternative scenario: Sell position is envisaged if price trades below 1866.22 with take profit at 1860.50.
No major economic data with direct bearing on this commodity.
Comment: Gold keeps on reaching new unprecedented highs it last got to in 2011 and this is because of the rising tensions between the U.S and China, with the U.S telling China to vacate it's consulate at Houston. This tension has made investing in the U.S a lot more risky, hence, investors look up to Gold as a safe haven. This is also supported by the rising cases of COVID 19; hence, a bullish move is envisaged on this commodity.
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1.27587 with take profit at 1.27927.
Alternative scenario: Sell position is envisaged if price trades below 1.27163 with take profit at key level 1.26742.
No major economic data with direct bearing on this pair.
Comment: The strength of the pounds sterling came as a result of negative news coming from the U.S and the current U.S/china tensions. Most investors are still uncertain to price in because they're confused how the U.S decision against china will affect the U.S; this fear and uncertainty has made GBPUSD to bounce off a support yesterday and making it to possibly keep pushing up till the 1.30 level.
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