GBPUSD Potential Forecast | 17th March 2023
Fundamental Backdrop
1. Inflation in GBP continues to be heightened.
2. A lot of instability in the US due to the Silicon Valley Bank crisis triggering a chain reaction to many other banks involved.
Technical Confluences
1. Price has broken the uptrend as seen by the trendline.
2. Price can potentially retrace back to the trendline or the H4 support level at 1.1961 before heading up.
3. Structure has been broken to the upside.
4. Price is resting well above the ichimoku cloud.
Idea
GBPUSD can create a new higher high on the larger timeframe and given the instability surrounding the USD, GBPUSD have potential to continue heading up.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Inflation in GBP continues to be heightened.
2. A lot of instability in the US due to the Silicon Valley Bank crisis triggering a chain reaction to many other banks involved.
Technical Confluences
1. Price has broken the uptrend as seen by the trendline.
2. Price can potentially retrace back to the trendline or the H4 support level at 1.1961 before heading up.
3. Structure has been broken to the upside.
4. Price is resting well above the ichimoku cloud.
Idea
GBPUSD can create a new higher high on the larger timeframe and given the instability surrounding the USD, GBPUSD have potential to continue heading up.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Disclaimer
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