GBPUSD | Perspective for the new week | Follow-up
Updated
Exciting times are ahead for the Pound Sterling as it makes a strong recovery during the second half of the previous week, soaring near 1.27800! The market sentiment is on the rise, and the Bank of England (BoE) is signaling a hawkish stance on interest rates, giving the GBPUSD pair even more room to climb higher. The recent interest rate decision saw a 25 basis points increase to 5.25%, fueling the optimism for further gains.
In contrast, the US Dollar is facing some headwinds following the release of the US July jobs report, which showed a lower-than-expected increase in Nonfarm Payrolls with only 187,000 new jobs. This has given the Pound Sterling an added boost and raised hopes for continued momentum in the upcoming week.
Of course, investors are keeping a close eye on developments as they also process the implications of Fitch's downgrade of the United States government's long-term debt rating. This could have far-reaching effects on the cable market, adding to the intrigue and excitement.
GBPUSD Technical Analysis:
Will the pound find solid support at $1.27000, or are we heading towards a potential breakdown and a possible sell-off? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the UK and US dockets, including the Consumer Price Index, Gross Domestic Product, Producer Price Index, and Consumer Sentiment Index. Brace yourselves as these events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, meticulously exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
Keep a close eye on that critical confluence at $1.27000, where an ascending trendline intersects in the Daily timeframe. It's a decisive moment where both sellers and buyers are vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results
In contrast, the US Dollar is facing some headwinds following the release of the US July jobs report, which showed a lower-than-expected increase in Nonfarm Payrolls with only 187,000 new jobs. This has given the Pound Sterling an added boost and raised hopes for continued momentum in the upcoming week.
Of course, investors are keeping a close eye on developments as they also process the implications of Fitch's downgrade of the United States government's long-term debt rating. This could have far-reaching effects on the cable market, adding to the intrigue and excitement.
GBPUSD Technical Analysis:
Will the pound find solid support at $1.27000, or are we heading towards a potential breakdown and a possible sell-off? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the UK and US dockets, including the Consumer Price Index, Gross Domestic Product, Producer Price Index, and Consumer Sentiment Index. Brace yourselves as these events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, meticulously exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
Keep a close eye on that critical confluence at $1.27000, where an ascending trendline intersects in the Daily timeframe. It's a decisive moment where both sellers and buyers are vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results
Note
GBPUSD is currently experiencing a range-bound trading environment, with price oscillating between $1.27640 and $1.27150, reflecting the indecision in the market. Despite this uncertainty, it's worth noting that price holding above the week's key level highlighted in the video at $1.27000, along with the ascending trendline, keeps the potential for an uptrend alive. However, we shall remain vigilant for a potential breakdown/retest of the support line and key level, as such a move could present selling opportunities.Good Morning
Trade active
UPDATEBuy positions triggered
Trade closed manually
All buy positions were exited with a conservative profit, as the $1.27900 region acted as a resistance level. Should this selling pressure persist, it might lead to a scenario where there's a breakdown/retest of both the ascending trendline and the $1.27435 mark, creating favorable conditions for selling positions. Conversely, if there's a breakout/retest of the $1.27900 level, it could open up possibilities for a continuation of the uptrend.Good Morning
Trade active
UPDATESecure sell position
Trade closed manually
All selling positions were exited, generating a modest profit, as buying pressure regained momentum. It's important to highlight that trading actions have been limited within a defined range since last Friday, specifically between the levels of $1.27000 and $1.279000. This emphasizes the prevailing uncertainty leading up to key economic indicators: the consumer price index, gross domestic product, and consumer sentiment index scheduled for Thursday and Friday respectively. As the price remains within this range, we will exercise patience, awaiting signals in the form of a potential breakout or breakdown to identify potential trading opportunities. We intend to delve into this topic extensively in our upcoming live session.Good Morning
Trade active
Follow-up from our live session this morning; sell position triggered - secure positionTrade active
UPDATE50pips from two positions; secure positions
Trade closed manually
All sell positions closed with a modest size of profit as we navigate an environment of range-bound trading since the week's commencement. This persistent sideward movement underlines the prevalent market hesitancy, magnified by the impending economic releases from the US and UK dockets over the next two days.Our approach shall be one of patience, as long as the price adheres to this confining range. We're poised for the eventual outcome of a decisive range breakout or breakdown. However, amid this equilibrium, should any compelling signals arise, illuminating potential trading prospects within this range, rest assured that I will promptly share updates here.
Good Morning
Trade active
The UK's GDP data has surpassed expectations, indicating a favorable expansion in the UK economy. Additionally, there is anticipation for forthcoming inflation data from the US, specifically the Producer Price Index (PPI) and the University of Michigan Consumer Confidence Index. The positive trajectory of the UK's outlook could potentially stimulate bullish momentum in favor of the Pound Sterling. Nevertheless, it is essential to closely monitor the market charts to gauge the reactions of market participants to this data. Presently, there is a confined trading range observed between $1.27000 and $1.26700. The possibility of a breakout or breakdown within this range holds the potential to offer insights into the direction of today's price action.Good Morning
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