After reading an article via Reuters, gross domestic product in the world's fifth-biggest economy increased by 1.1% in the third quarter, weaker than a preliminary estimate of growth of 1.3% as global supply chain problems weighed on manufacturers and building firms. Investors are braced for a further slowdown in the fourth quarter of 2021 and a weak start to 2022 due to a rise in COVI9-cases caused by Omicron which has hurt Britain's hospitality and leisure sector and hit retailers. Although on the daily timeframe, we are on a strong bullish candle, we've located a double top on the 4 hour timeframe. This pair has been on a downtrend since June of this year due to economic growth being slower than expected. I don't see why the US economy would grow slower than the UK is trying to recover. I don't want a homerun, just a retracement of at least 38% of the previous low on this time frame. Let's see what happens.
Not advice*
This trade could go wrong. However, it's about getting better!
Not advice*
This trade could go wrong. However, it's about getting better!