Hello Platinum Traders,
In this video we take a look at the GBP/USD pair, otherwise known as Cable.
We look exclusively at how to trade GBP/USD in 2020, as we face times of uncertainty and epidemic.
As you may well know, the financial markets have been going through a bit of a rollercoaster over the last couple of months as the spread of Coronavirus has left countries trying to keep their economies afloat as workplaces close, and wealth creation slows.
When we look to trade GBP/USD in 2020, we must keep an eye out for several things. Firstly, fundamental events: What is the Bank of England doing today?
What’s happening with the UK Government? Is Boris Johnson showing signs of improvement?
What is the Fed doing today?
What’s happening with the US Government?
Is Donald Trump making any announcements?
These key questions will help you to trade GBP/USD in 2020 as we face these hard times. Secondly, we move on to technical: Are there any obvious trading patterns? What is happening with the latest price action? Where have previous candles opened, topped, bottomed, and closed? Where are the support and resistance levels? Have any been broken through before by a substantial amount? If you have our system: Where are the current Buy and Sell zones?
These key questions will also help you to trade GBP/USD in 2020, and all the years following. Once you’ve answered each and every one of these questions, only then must you allow yourself to trade GBP/USD in 2020. We are hoping that market conditions will return to normal before long, so that we can return to the normal levels of volatility that most retail traders will be used to and comfortable with.
If you’re finding difficulty with your ability to trade GBP/USD in 2020, then please get into contact with us.
We are here to help, and during this time of uncertainty and increased volatility, education is more important than ever.
Let us help you trade GBP/USD in 2020 by getting into contact and sitting our free forex consultation, so we know how to best help you to succeed in the markets.