GBPUSD | Perspective for the new week | Follow-up
Updated
The dollar tested a new nine-month low as economic data from the U.K. strengthened the case for more interest rate hikes. Despite a rosy year for the Pound sterling, Last week's trading session was so choppy that price action remains sandwiched between the 1.24500 and 1.22500 zone to indicate an indecisive grip in this market as sellers continue to reject the 1.24500 hereby stalling further growth. With the incoming week laced with a series of high-impact macroeconomic events, the consolidation phase noticed insinuates that major players are probably on the sidelines looking forward to these events for the green light. So, it is likely going to be a volatile week - In this video, we looked at the current structure from a technical standpoint and identified positional set-ups that we shall be using to guide trading activities in the coming week.
Disclaimer:
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.
Disclaimer:
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
A channel has been identified since the begining of the week within the key level at $1.24000 and $1.23800 level. So, if the bullish trendline is strong enough, a breakout/retest of the 1.24000 level should signal buying opportunities. If price breaks down the 1.238000 - a level that shares a confluence with the trendline that has been guiding bullish momentum since the beginning of the year, we want to see selling pressure below this structure for sell confirmation.Good morning
Trade active
Secure the current sell position as we look forward to adding more positionsTrade active
Secure sell position as we look forward to more opportunities to add positionGood morning
Trade active
Secure sell positions as the second position was triggered at the breakdown of the 1.234000 levelTrade active
Just as discussed during our live session this morning; secure all sell position. Watch replay on my channelTrade active
As buying pressure continues around the 1.23100 level in the last 6 hours. A simple set-0up has been identified on the 15 minutes frameTrade active
Price action is still caught within a flat channel to emphasize the indecision in this market as investors eye key macroeconomic data releases and the US Federal Reserve's (Fed) policy announcements later on today.Happy new month!
Trade active
Trade active
Secure all sell positions as we look forward to the FOMC press conferenceTrade active
Risking a buy-stop order above 1.23400 as buying pressure resumesTrade active
Secure all buy positionsTrade active
Secure the buy position as selling pressure resumes at where the price started this week - a strong supply zone. Hence looking forward to a breakdown/retest of the 1.23800 level for selling opportunities.Good Morning
Trade active
Secure the current sell position as price action takes out the buy position with about 40 pips in profitTrade active
Secure all sell positions as selling pressure continues. You might want to watch the replay of our live session on this pair on my channel for more details on how to manage this tradeTrade active
Secure all sell positions as price action breaks down the $1.22500 levelTrade active
Secure all sell positionsGood morning
Trade active
Risking a sell position below the 1.22500 level. Watch the replay of our live studio session on my channel for more detailsTrade active
Secure all sell positions now as the US NFP arrives at 517K in Jan as against the 185K expectation.Trade active
Secure all sell positions and if you have missed this opportunity, let's see if the market will present another opportunity at the retest of the 1.22000 levelTrade closed: target reached
Over 600 pips in profit (3 positions) as price action hits TP target at the $1.211000 level. Congratulations to everyone who was part of this profitable journey.Trade active
Trade active
Secure the sell position as price action breaks down the 1.21000 level
Trade smart. Trade consciously
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