GBPUSD | Perspective for the new week | Follow-up

In the absence of high-impact events from the UK this week, the anticipation of the testimony by Fed Chair Jerome Powell on Tuesday and Wednesday as he delivers the semi-annual monetary policy report to lawmakers is on everyone's radar. Obviously, his comments will shed light on whether stakeholders are in tune with the central bank’s view on how high it will have to raise rates to knock down inflation. From a technical standpoint, this video shed light on what to look out for in the charts as bullish activities from last week's trading session may linger into the new week.

00:48 Reference to last week's daily commentaries and results
04:27 GBPUSD Technical analysis on Daily chart
04:35 Macroeconomic events to look out for the week
10:12 GBPUSD Technical analysis on 4H Timeframe
12:40 Conclusion on next week's expectation on GBPUSD

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

Trading below our key level for the week at the $1.20500 level; the price is caught within a channel hence the need to be patient for a breakout or breakdown for trading opportunities.

Good morning

Trade active:

Sell position triggered at the breakdown of the 1.20250 level; secure sell position

Comment:

Price action takes out the sell position at break-even as buying pressure resumes.

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Trade active:

Selling pressure resurfaces below the 1.20500 level

Trade active:

Buying pressure resumes again as price action takes out sell position to trigger buy position. Update coming soon

Good morning

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Just as discussed during our live studio session this morning, a retest of the structure should trigger sell stop order below the 1.20250 level. Time to secure sell position

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Quick update

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Secure all sell positions

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Looking forward to seeing how price reacts to the 1.19000 level

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Secure all sell positions

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A total of 430 pips in profit ( 3 positions) running in profit, secure all sell positions

Trade active:

Secure all sell positions as price action consolidates

Good morning

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During our live session today, we identified a simple setup on the 15 minutes timeframe

Trade active:

Secure the current buy position as selling pressure resumes

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We are not getting carried away with this bullish momentum as the current structure still has a high chance of selling opportunities hence the need to set our sell positions. Update coming up soon

Trade closed manually:

Following positive ADP data; volatility grips the market taking out all existing positions. The current structure still looks more bearish. Update coming up soon

Trade active:

Buying pressure continues as the bullish trendline will be our yardstick for trading opportunities for today

Good morning

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Trade closed: target reached:

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After hitting the TP target, selling pressure appears to resume as price action rejects the potential sell window identified during our live session today. The 1.19000 level will be a yardstick for selling opportunities.

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Structural adjustment for selling opportunties

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Secure the recent sell trigger

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After being taken out, we still have a sell order below the 1.19150 level as the price remains within the potential sell window.

Good morning

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20 minutes in to the NFP selling pressure continues

Trade active:

Secure buy position