Hey traders!
For Day 12/100, we're looking at GBPUSD downside risks.
On the technicals side:
- Overall bearish trend
- Created strong resistance + 62% retracement
- Break of HH-HL retracement structure
- Break below 1.244 support
- Now retesting that previous support as resistance
- We're looking to take sells anytime now if it selling signals on H4 and H1 persist
On fundamentals side:
- We have a risk of CPI disappointment on UK side
- Couple of institutions expecting a cooler print than expected
- If that's the case, then aggressive market pricing of next rate hike may be in danger
- USD upside risk of positive rhetoric from debt-ceiling negotiations
For Day 12/100, we're looking at GBPUSD downside risks.
On the technicals side:
- Overall bearish trend
- Created strong resistance + 62% retracement
- Break of HH-HL retracement structure
- Break below 1.244 support
- Now retesting that previous support as resistance
- We're looking to take sells anytime now if it selling signals on H4 and H1 persist
On fundamentals side:
- We have a risk of CPI disappointment on UK side
- Couple of institutions expecting a cooler print than expected
- If that's the case, then aggressive market pricing of next rate hike may be in danger
- USD upside risk of positive rhetoric from debt-ceiling negotiations
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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.