GBPUSD analysis week 7
šFundamental Analysis
The US dollar is under heavy selling pressure, opening the door for GBP/USD to rise as risk-on flows dominate financial markets.
US President Donald Trump refrained from announcing new reciprocal tariffs on Thursday, instead explaining that he has tasked his economic team with drawing up plans to impose reciprocal tariffs on every country that taxes US imports, triggering a risk-on rally.
At press time, US stock index futures were trading sideways on the day. Should major Wall Street indices open on a bullish note and continue higher into the weekend, GBP/USD could extend its weekly gains.
šÆTechnical Analysis
GBPUSD is pulling back to 1.250 and is looking for some buying interest towards the 1.272 resistance. The support at 1.250 is supported by two EMAs and a trendline. This trading range is the focus next week and it is quite difficult to break this trading range.
ššTrading Signals
BUY GBPUSD 1.250-1.248 Stoloss 1.245
SELL GBPUSD 1.272-1.274 Stoploss 1.277
The US dollar is under heavy selling pressure, opening the door for GBP/USD to rise as risk-on flows dominate financial markets.
US President Donald Trump refrained from announcing new reciprocal tariffs on Thursday, instead explaining that he has tasked his economic team with drawing up plans to impose reciprocal tariffs on every country that taxes US imports, triggering a risk-on rally.
At press time, US stock index futures were trading sideways on the day. Should major Wall Street indices open on a bullish note and continue higher into the weekend, GBP/USD could extend its weekly gains.
šÆTechnical Analysis
GBPUSD is pulling back to 1.250 and is looking for some buying interest towards the 1.272 resistance. The support at 1.250 is supported by two EMAs and a trendline. This trading range is the focus next week and it is quite difficult to break this trading range.
ššTrading Signals
BUY GBPUSD 1.250-1.248 Stoloss 1.245
SELL GBPUSD 1.272-1.274 Stoploss 1.277
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.