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GBP/USD Signal - USD Fed's Chair Powell speech - 19 Oct 2020

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Signal Details
Entry Price: 
1.2933
Take Profit: 
1.2860
Stop Loss: 
1.2990
Direction: 
Sell
How we trade
Average: 5 (1 vote)

GBP/USD is trading to the downside today prior to USD Fed's Chair Powell speech. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018. Technically the pair is trading above the 50 moving average, and we anticipate further downside on the GBP/USD into the 1.2860 level.

Submitted by Toni H. on Mon, 19 Oct 2020 00:24:46 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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