GBPUSD | Perspective for the new week | Follow-up
The GBPUSD continues its descent, reaching the 1.2200 zone. Despite the UK's Q3 GDP surpassing expectations with a 0.6% annual expansion, the pair remains unresponsive as investors hold off for next week's crucial data releases to determine a clearer direction.
On an annual basis, the UK's GDP growth of 0.6% exceeded forecasts of 0.5%. However, the nation treads cautiously on the edge of a stagflationary scenario in 2023. Despite efforts by the Bank of England, inflation persists at elevated levels, prompting over 500 basis points of tightening.
On the other side of the Atlantic, hawkish remarks from the Fed chair have propelled US Treasury bond yields, providing support to the Greenback.
Looking ahead, market participants are gearing up for next week's UK economic calendar, featuring key indicators such as jobs data, inflation, and retail sales, crucial for market cues. In the US, alongside additional Fed speakers, attention will be on consumer and producer inflation, unemployment claims, and retail sales.
GBPUSD Technical Analysis:
Will the pound find a reversal set-up in the near future as the price tests the $1.22000 zone? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
We are keeping a close eye on the potential range between $1.22000 and $1.21450 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying t0 control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results
On an annual basis, the UK's GDP growth of 0.6% exceeded forecasts of 0.5%. However, the nation treads cautiously on the edge of a stagflationary scenario in 2023. Despite efforts by the Bank of England, inflation persists at elevated levels, prompting over 500 basis points of tightening.
On the other side of the Atlantic, hawkish remarks from the Fed chair have propelled US Treasury bond yields, providing support to the Greenback.
Looking ahead, market participants are gearing up for next week's UK economic calendar, featuring key indicators such as jobs data, inflation, and retail sales, crucial for market cues. In the US, alongside additional Fed speakers, attention will be on consumer and producer inflation, unemployment claims, and retail sales.
GBPUSD Technical Analysis:
Will the pound find a reversal set-up in the near future as the price tests the $1.22000 zone? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
We are keeping a close eye on the potential range between $1.22000 and $1.21450 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying t0 control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results
Trade active:
The GBPUSD continues its upward trajectory, reaching around 1.2230 in the Asian session. This uptick could be attributed to the support garnered from the better-than-expected Gross Domestic Product released by the United Kingdom last Friday, as market participants digest its implications. Looking ahead, focus will be on the upcoming UK economic docket revealing employment and inflation data tomorrow - Tuesday. Concurrently, all eyes will be on the US Consumer Price Index (CPI) for crucial cues.
The week commenced with a period of indecision, witnessing initial price action confined between 1.22375 and 1.22225 for the first 10 hours. However, a breakout of the level identified in the video at 1.223000, with an engulfing bullish candle could be setting a bullish tone for the period ahead. The levels on the chart indicate entry levels to look out for trading opportunities.
Good Morning
The week commenced with a period of indecision, witnessing initial price action confined between 1.22375 and 1.22225 for the first 10 hours. However, a breakout of the level identified in the video at 1.223000, with an engulfing bullish candle could be setting a bullish tone for the period ahead. The levels on the chart indicate entry levels to look out for trading opportunities.
Good Morning
Trade active:
UPDATE
Just as discussed during our live session this morning; two buy positions are now triggered with over 35 pips in profit.
Just as discussed during our live session this morning; two buy positions are now triggered with over 35 pips in profit.
Trade active:
#GBPUSD
UPDATE
UPDATE
Trade active:
#GBPUSD
UPDATE
Protect positions
UPDATE
Protect positions
Trade active:
The GBPUSD has gained over 100 pips from four buy positions, showing continued bullish momentum. However, there is some minor pressure on the currency pair as the market anticipates the release of employment data from the United Kingdom in less than 20 minutes. It is advisable to protect all positions in light of this upcoming data release, as market participants will likely react to the outcome. Additionally, there is high anticipation for the upcoming US inflation data, which will also impact market sentiment.
Good Morning
Good Morning
Trade active:
Over 500 pips in profit from five buy positions as CPI data came in below expectation. Protect positions
Trade active:
We have seen significant success with over 1,300 pips gained from seven buy positions, making this the most profitable trade among the assets on our watchlist for this week.
During the Asian session, trading activity on the GBPUSD remained within the range of 1.25050 and 1.24800. This followed a notable surge of 1.75%, pushing the pair to the 1.2500 zone after weaker US inflation data was released.
As we await the release of the high-impact United Kingdom’s (UK) Consumer Price Index (CPI) data for October, which is set to be released shortly, it is important to protect all positions. The event may incite volatility in either direction, so it is prudent to be cautious and ensure positions are secure.
Good Morning
During the Asian session, trading activity on the GBPUSD remained within the range of 1.25050 and 1.24800. This followed a notable surge of 1.75%, pushing the pair to the 1.2500 zone after weaker US inflation data was released.
As we await the release of the high-impact United Kingdom’s (UK) Consumer Price Index (CPI) data for October, which is set to be released shortly, it is important to protect all positions. The event may incite volatility in either direction, so it is prudent to be cautious and ensure positions are secure.
Good Morning
Trade active:
As discussed during our live session;
A new set-up emerges for today's trading session
A new set-up emerges for today's trading session
Trade active:
Secure sell position
Trade active:
The Pound Sterling has continued its decline for the second consecutive day, reaching as low as 1.23800 during the Asian session. With a gain of 150 pips from three sell positions, it appears that the price action is currently undergoing a retracement of the strong bullish movement that commenced earlier this week. The key question now revolves around the extent of this retracement before the potential resurgence of bullish momentum. It's important to note that the upside may be limited due to the increasing consensus that the Bank of England is likely to initiate interest rate cuts, supported by softer UK consumer inflation figures.
However, over the past 6 hours, price action has remained within a tight range , underlining uncertainties as market participants adopt a wait-and-see approach amid mixed fundamental cues from yesterday's economic indicators. A decisive breakthrough of this range holds the potential to either bolster bullish or bearish sentiments, making it a delicate juncture. Given this sensitivity, it is advisable to protect all sell positions while exercising patience and awaiting the next clear signal.
Good Morning
However, over the past 6 hours, price action has remained within a tight range , underlining uncertainties as market participants adopt a wait-and-see approach amid mixed fundamental cues from yesterday's economic indicators. A decisive breakthrough of this range holds the potential to either bolster bullish or bearish sentiments, making it a delicate juncture. Given this sensitivity, it is advisable to protect all sell positions while exercising patience and awaiting the next clear signal.
Good Morning
Trade active:
UPDATE
Trade active:
UPDATE
Trade active:
The Pound Sterling appears to continue its decline for the third consecutive day, with all attention on the upcoming Retail Sales data from the United Kingdom today. Currently trading around the 1.24100 zone during the Asian session, the 1.24000 area, considered a psychological level, could potentially act as immediate support, offering potential buying opportunities.
Despite the ongoing decline, the bullish outlook remains intact as the price action remains above the descending trendlines that were breached during yesterday's trading session.
However, a break below the 1.24000 area could exert further downward pressure on the GBPUSD pair. We will delve into a detailed analysis of the current market structure during the upcoming live session.
Happy Friday!
Despite the ongoing decline, the bullish outlook remains intact as the price action remains above the descending trendlines that were breached during yesterday's trading session.
However, a break below the 1.24000 area could exert further downward pressure on the GBPUSD pair. We will delve into a detailed analysis of the current market structure during the upcoming live session.
Happy Friday!
Trade active:
Just discussed during our live session this morning; bullish outlook remains intact as price action breakout and retests the descending trendline.
Trade active:
It appears that buyers are losing momentum at this juncture, protect the running buy position now.
Good night and Happy weekend
Good night and Happy weekend
Trade smart. Trade consciously
UPDATE
Over 500 pips in profit from five buy positions as CPI data came in below expectation. Protect positions