GBPUSD | Perspective for the new week | Follow-up

Following a profitable week for us, the Pound tested a seven-week high of the 1.23500 zone during the course of last week's trading session. The BoE raised interest rate by 25bps on Thursday to a new 15-year high of 4.25%, an attempt to tame double-digit inflation in the UK and the Sterling rose 0.5% against the dollar on the back of the news but was unable to hold the momentum as price action broke down the trendline that has been supporting the bullish momentum in the last couple of weeks. The Dollar steadied as a result of this development as confidence in the banking sector remained fragile. In this video, we analyzed the charts from a technical standpoint to figure out tendencies of price action in the coming week(s).

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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.
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Past performance is not necessarily indicative of future results.

Trade active:

The week has started on an indecisive note as price action remains trapped within the 1.22500 and 1.22300 range. A breakout or breakdown of the channel is the signal we are waiting for.

Good morning

Trade active:

Trade active:

price action takes out the buy position as selling pressure resumes. Remember what we said during our live session today, where we acknowledged the bullish trendline as our yardstick for trading activities today.

Trade active:

Secure buy position as bullish trendline remains our guide

Trade active:

Secure all buy positions as we look forward to more trading opportunties

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A total of 110pips in profit with two positions running. Secure all sell positions as selling pressure resumes along the resistance line of the ascending channel.

Good morning

Trade active:

Secure sell position

Comment:

Price action takes out the sell position as buying pressure resumes. Our projection during our live session this morning was to look out for buying opportunities at the breakout/retest of the 1.23500 level.

Comment:

No position triggered yet as selling pressure continues from the 1.23500 level. We shall be discussing this in detail during our live session.

Good morning

Comment:

Trade closed: stop reached:

Stop-loss hit. A breakout/retest of the 1.23500 level will welcome buying opportunities

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Trade closed manually:

After being taken out of the sell position at break even, the appearance of buying pressure here has a tendency of breaking out of the 1.23500 level for buying opportunities.

GGood morning

Trade active:

Just as we discussed during our live session this morning, secure the buy position and wait ONLY for a breakout and retest of the 1.23620 for buying opportunities. Update coming soon

Trade active:

Trade active:

Secure all buy positions as we look forward to more opportunities

Trade active:

Sevcure buy positions as selling pressure resumes. We'll discuss this in detail during our live session this morning

Good morning

Trade active:

Reminder of our conclusion during our live studio session today

Trade active:

Secure sell positions

Trade active: