Tickmill : February 18th, 2020 – GBPUSD Breakdown

Title : GBPUSD Breakdown (February 18th, 2020)

Broker : Tickmill

Description : GBPUSD Daily Outlook – On Monday after hours, which basically was Tuesday morning during the Asian trading session, the RBA knocked the Aussie dollar off as it said even though the rates at a historic low, they could go lower if needed.

The Official Cash Rate was kept at its 0.75% record low.

On Tuesday’s London session we have the Euro-Zone ZEW Survey for February.

Today I’m looking at the GBP/USD pair which remains below the daily Ichimoku cloud and has recently completed its pullback. The future cloud is getting thicker on the bearish side. The highs have been getting lower in the past couple of months, so the technicals and the sentimentals are pointing to further drops potentially towards the key Fibonacci retracement levels at 1.29 and 1.274 respectively.

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