GBPUSD long/Buy idea
GBP/USD needs balanced GDP data to climb.
The pound has been positive for several months, benefiting from the surprising economic strength of the UK. On the other hand, the US dollar has fallen behind, but the recent concerns about the global economy have moved the flows towards the safe dollar.
Markets are mostly bearish today, with the only catalyst for their movement being non-farm payrolls data.
In order to see the correction of the US dollar, despite the disappointment, we need below $200,000 to force the Federal Reserve to stop raising interest rates. But not so weak that it can ensure the flow of orders in US dollars.
Weak wage growth will also help.
In such a case, GBPUSD has the space to increase levels up to 1.252.
But to enter the purchase transaction, one should wait for the failure of the 1.245 level to enter the transaction at this level in the pullback.
The pound has been positive for several months, benefiting from the surprising economic strength of the UK. On the other hand, the US dollar has fallen behind, but the recent concerns about the global economy have moved the flows towards the safe dollar.
Markets are mostly bearish today, with the only catalyst for their movement being non-farm payrolls data.
In order to see the correction of the US dollar, despite the disappointment, we need below $200,000 to force the Federal Reserve to stop raising interest rates. But not so weak that it can ensure the flow of orders in US dollars.
Weak wage growth will also help.
In such a case, GBPUSD has the space to increase levels up to 1.252.
But to enter the purchase transaction, one should wait for the failure of the 1.245 level to enter the transaction at this level in the pullback.
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