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British Pound / U.S. Dollar
Short

GBPUSD → A change of sentiment. What happened?

By RLinda
Updated
GBPUSD is moving into a flat phase, possibly into counter-trend correction on the background of locally changed sentiment, formed by the fundamental background of Thursday / Friday, the dollar is growing on this background.

snapshot

The currency pair is forming a bull market wave on D1-W1. On D1, a clear transition from bear market to bull market is formed, which is confirmed by the breakdown of the structure and smooth confirmation by the subsequent impulse.
The fundamental background is (temporarily) negative, there is no news for the next two days, respectively, the sentiment from last week remains.
Technically, the zone of interest for MM is the support from D1 at 1.3044. On H1 we have a strong liquidity zone ahead, which may trigger a primary pullback to the equilibrium zone before a subsequent decline to the key support and liquidity zone.

Resistance levels: 1.314, 1.3163
Support levels: 1.3088, 1.3081, 1.3044

Buyers decided to refrain for the time being, shorts on the currency pair are increasing on the background of the dollar growth. Ahead is an important event - CPI, PPI, as well as the Fed rate meeting on September 18. By this time the market may be neutral

Rate, share your opinion and questions, let's discuss what's going on with ★
GBPUSD ;)


Regards R. Linda!
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