Today at 5p.m. the president-elect D.Trump had a press conference and failed market expectations regarding the topics that he presented in his speech. The business world expected specifics regarding fiscal policy (tax cuts) and facilitation in law regulations concerning industrial activities. Unfortunately, he devoted little time to those important topics for the economy and more time spent on explaining that Russia has nothing to do with his unexpected victory in the elections and it is not true that Russian intelligence has some “hooks” in form of recordings of his sexual conquests during stay in Russia a few years ago.
I admit that personally also felt unsatisfied and I got the impression that Mr. Donald Trump has not yet grown into his role of a leader of the world’s largest economy.
Therefore, the USD in general began to lose on most currency pairs.

GBPUSD

Why I went LONG ?

  • The last two daily candles are evidently bullish.Today’s daily candle expressly broke important levels and returned to the top, leaving a long bullish shadow- we can treat it as a false breakout.
  • On chart H4 we can observe a small not very expressive but bullish divergence on MACD.
  • There is some place for growth until first strong resistance at 1.2385
GBPUSD Daily
GBPUSD Daily- false breakout
GBPUSD H4
GBPUSD H4 red lines show divergence on MACD

 

 

 

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