GBPUSD | Perspective for the new week | Follow-up

Despite a choppy situation for the GBPUSD where price action was caught with a range at 1.22500 and 1.21000, the Pound Sterling rose by 0.1% to close the week at 1.22250, and this is likely as a result of the data released earlier on Friday. At this point, I am of the opinion that the data from the macroeconomic events (Claimant Count Change & ILO Unemployment Rate) coming up in the week will have a significant impact on price movement. In this video, we reviewed the charts from a technical standpoint and decided to use the channel (1.22500 and 1.21000) as a yardstick for trading opportunities.

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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:

Following a breakout of the key level identified in the video at 1.22500, a retracement appears to be going on here. So, we have a new support and resistance level for the week at 1.22200 and 1.22900 respectively and we shall be waiting for a signal at either a breakdown or breakout of this structure.

Good morning

Trade active:

Secure sell position

Trade active:

Trade active:

The choppy situation continues!
The 1.21650 level continues to hold buying pressure as price action takes out the sell position with a small profit. Even as I tend towards a bearish expectation below the 1.222000 level; Lets's see how this current candle will close... Update coming up soon

Good morning

Trade active:

Just as discussed during our live session this morning. Price action takes out the sell position to trigger a buy position at the breakout of the 1.22200 level, and secure the buy position while looking forward to adding more position at the breakout/retest of the next structure at the 1.22500 level.

Trade active:

Ensure that all buy positions as selling pressure resume at the 1.22500 level. So, we should be ready to sell at the breakdown/retest of the 1.22200 level... Update coming up soon.

Trade active:

Secure buy positions

Trade active:

Secure all buy positions as the third position got triggered at the breakout of the 1.22900 Level.

Good morning

Trade closed: target reached:

Price action hits TP target - A total of 340 pips in profit with 3 positions.
Update coming up soon

Trade active:

As we anticipate data from the Retail sales report in 25 minutes; a simple set-up has been identified for the 15-minute timeframe.

Comment:

The Retail sales data came in below expectation and this development might reflect as bullish traction for the US dollar... Secure the current buy position at the break-even level. Update coming in soon

Trade active:

Secure buy positions

Trade active:

Price action takes out the buy position with a small profit. Looking forward to a breakdown/retest of the bullish trendline at the 1.28350 level for selling opportunities.

Trade active:

Two sell positions triggered, secure all positions

Trade active:

Secure all sell posibtions

Good morning

Trade active:

Buy pressure continues to stall the bearish drive; if price action does not break below the 1.23300 level, risking a breakout/retest of the 1.23600 level appears reasonable at this juncture. Ensuring all previous sell positions are secured.

Trade active:

Secure the buy position

Trade active:

Trade active:

Secure buy position

Trade active:

Price action takes out the buy position with about 30 pips profit as selling pressure resumes. Buyers are unable to break the previous high at the 1.24300 zone to find a new Lower High. Looking forward to selling opportunities.

Good morning

Trade active:

We discussed this at length during the live session (replay on my channel)