GBP/USD: Analyzing Recent Trends and Market Sentiment
Updated
Building on our previous analysis (Link Below), the GBP/USD exhibited a bearish candle on the daily timeframe last Friday, following three consecutive days of positive closure. This shift occurred amidst mixed market sentiment, later influenced by positive economic news from the US, particularly the Core Personal Consumption Expenditures data. Despite briefly retreating below the 1.2500 mark by the end of Friday's session, the technical outlook suggests that the bullish bias remains intact.
Our strategy involves capitalizing on potential sell limit levels indicated on the charts, while also preparing for a potential new bearish impulse. As a precautionary measure, we've adjusted our previous position to break even. In the optimal scenario, the price may continue to ascend towards the 50% Fibonacci levels, where a confluence of factors awaits. This includes the Point of Control (POC) volume, the 200-period Volume Weighted Average Price (VWAP), an oversold condition on the Stochastic oscillator, a bearish order block with Future Value Generation (FVG), and potentially, a correlation with seasonal price movement.
By carefully considering these technical and fundamental indicators, we anticipate a potential shift in the market sentiment towards a bearish direction.
Previous Idea:
Our strategy involves capitalizing on potential sell limit levels indicated on the charts, while also preparing for a potential new bearish impulse. As a precautionary measure, we've adjusted our previous position to break even. In the optimal scenario, the price may continue to ascend towards the 50% Fibonacci levels, where a confluence of factors awaits. This includes the Point of Control (POC) volume, the 200-period Volume Weighted Average Price (VWAP), an oversold condition on the Stochastic oscillator, a bearish order block with Future Value Generation (FVG), and potentially, a correlation with seasonal price movement.
By carefully considering these technical and fundamental indicators, we anticipate a potential shift in the market sentiment towards a bearish direction.
Previous Idea:
Trade closed: target reached
✅ Close this with small profit cause I'll open in a different direction. 
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🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
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