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Forex Traiding

Analysis of GBP / USD. January 6. Donald Trump continues to lose control and support. The third “lockdown” in the UK does not scare

DATE OF PUBLICATION: 2021-01-06 13:46:26 The section of the trend, originating on September 23, took a five-wave, fully completed form. However, wave counting can become complicated as many times as you like. The rise in the instrument quotes continues, thus, the expected wave 5 in 5 can also take a five-wave form. If this assumption is correct, then the quotes will continue to rise with targets located up to the 40th figure. On the younger chart, the wave counting also suffered certain changes. Supposed wave 5 has already taken on a more extended form, and if the current wave counting is correct, then wave 3 in 5 is currently under construction. An unsuccessful attempt to break through the 127.2% Fibonacci level indicates a possible formation of an internal corrective wave, but the whole wave picture is not yet took a complete form. Thus, I look forward to a successful breakout of the 37th figure and the continuation of the rally in the Pound / Dollar. Market attention has unexpectedly shifted from the UK to the US. Everyone is accustomed to the fact that the UK is the number one provider of important news. However, Brexit is over, the trade deal is agreed, and the third wave of the epidemic with a new strain (more infectious) did not frighten the markets and did not stop the rise in quotations of the Briton. But today or tomorrow the fate of power in the US Senate should be decided. At the moment, the counting of votes is underway in the state of Georgia, and it is quite possible that two Democrats will win, which will bring their total presence in the Senate to 50. And given Kamala Harris’ casting vote, it is the Democrats who will control the Senate. But the troubles of the Republicans and Donald Trump do not end there. The President of the United States, who still has two weeks to be President, continues to make attempts to stay in power. However, more and more officials are turning away from him. Not all Republican senators are now ready to support Trump’s interests and fight for him. US Vice President Mike Pence said in a personal conversation with Trump that he has no authority to somehow influence the outcome of the election, which was won by Joe Biden. Thus, both Trump and the Republicans may end up suffering a crushing defeat. Over the next four years, Democrats can control all power in the country. The Governor of the Bank of England Andrew Bailey will speak today in the UK, and the minutes of the last Fed meeting will be published in the evening. These events may generate interest in the markets. Also today it is worth paying attention to the report on the change in the number of employees from the ADP and business activity indices in the services sectors of the US and the European Union. General conclusions and recommendations: The Pound-Dollar instrument resumed building an upward trend section. Thus, I currently recommend buying the Pound / Dollar instrument after a successful breakout of the 37th figure with targets located near the 40th figure, within the assumed 3 in 5 in 5 waves of the uptrend. It is also possible to buy the British on new MACD signals “up”. However, it should be understood that the uptrend segment cannot be extended indefinitely. And the closer its completion, the more dangerous it is to buy pound sterling. Material provided by InstaForex – Source – InstaForex

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