Daily Forex Signals
The British pound dropped below 1.36 and slid to an intraday low of 1.3541 after England entered its third lockdown. U.K. Prime Minister Boris Johnson ordered a national lockdown starting from Monday night until mid-February.
Elsewhere, Germany is set to extend its lockdown.
GBP/USD gave up some of its recent gains after bulls failed to push the pair above 1.3705. A next important support area will be around the 1.35-level and if that area proves to hold, chances are in favor of another leg up with a next target at 1.3740. However, bulls will first need to overcome the 1.3650-level in short-term time frames.
EUR/USD reversed shy of 1.2310 and finally ended the trading day virtually unchanged. Bulls in this pair will continue to focus on a break above 1.2310 while bears may wait for a break below 1.22.
The DAX experienced a roller-coaster ride Monday and finally gave up on 13900 and dipped slightly below 13600. We continue to focus on a trading range between 14000 and 13400.
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Long @ 1.2280
Short @ 1.2225
Long @ 1.3615
Short @ 1.3535
Long @ 13760
Short @ 13640
December 2020: +318 pips
November 2020: +75 pips
October 2020: +432 pips
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