GBP/USD Strategy for European and American Trading Sessions
GBP/USD news:
🔆GBP/USD eased after hitting a two-month high of 1.2674 on Friday, hovering around 1.2670 in Asian trade. However, the pair maintained its strength as the US dollar remained under pressure due to weak jobless claims data and mixed signals from the Federal Reserve.
🔆Minutes of the Fed's January policy meeting showed that some policymakers viewed potential changes in trade and immigration policies as obstacles to deflation, putting pressure on the dollar.
🔆During the Asian session, the yield on the 10-year US Treasury note fell below 4.5%, reducing demand for the dollar and allowing GBP/USD to rise.
🔆As the European session begins on Friday, the UK Office for National Statistics will release January retail sales data.
Personal opinion:
🔆Good economic news for the Pound continues to maintain the strength of GBP. In contrast to the bad news from Trump's tariff policy, the dollar has weakened. However, FM believes that there will be a pullback phase as the RSI is diverging after entering the overbought zone earlier. GBP will consolidate and rise again.
Technical analysis:
🔆Based on important resistance - support and Fibonacci levels combined with economic information to come up with appropriate strategies.
Plan:
🔆Price Zone Setup:
👉BUY GBP/USD 1.2620 – 1.2635
❌SL: 1.2575 | ✅TP: 1.2670 – 1.2720 – 1.2800
FM wishes you a successful trading day 💰💰💰
🔆GBP/USD eased after hitting a two-month high of 1.2674 on Friday, hovering around 1.2670 in Asian trade. However, the pair maintained its strength as the US dollar remained under pressure due to weak jobless claims data and mixed signals from the Federal Reserve.
🔆Minutes of the Fed's January policy meeting showed that some policymakers viewed potential changes in trade and immigration policies as obstacles to deflation, putting pressure on the dollar.
🔆During the Asian session, the yield on the 10-year US Treasury note fell below 4.5%, reducing demand for the dollar and allowing GBP/USD to rise.
🔆As the European session begins on Friday, the UK Office for National Statistics will release January retail sales data.
Personal opinion:
🔆Good economic news for the Pound continues to maintain the strength of GBP. In contrast to the bad news from Trump's tariff policy, the dollar has weakened. However, FM believes that there will be a pullback phase as the RSI is diverging after entering the overbought zone earlier. GBP will consolidate and rise again.
Technical analysis:
🔆Based on important resistance - support and Fibonacci levels combined with economic information to come up with appropriate strategies.
Plan:
🔆Price Zone Setup:
👉BUY GBP/USD 1.2620 – 1.2635
❌SL: 1.2575 | ✅TP: 1.2670 – 1.2720 – 1.2800
FM wishes you a successful trading day 💰💰💰
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.