GBP/USD – Week 12 – Bearish sentiment to resume.
Updated
Last week, our forecast for GBPUSD came-out to be correct, as the price ranged the entire week. Neither the FOMC nor the Bank of England offered any relevant direction for the Sterling, with price continuing to move correctively.
For this week, we expect the price to finish its correction around the resistance area highlighted on the chart, before making another attempt to break the first support area.
Keep an eye on Wednesday’s British CPI numbers release, as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, we expect the price to finish its correction around the resistance area highlighted on the chart, before making another attempt to break the first support area.
Keep an eye on Wednesday’s British CPI numbers release, as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Note
Any pullback would act as a confirmation for further bearish continuation: Trade closed manually
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