GBP / USD ! 28 Nov - waiting for liquidity zone BUY signal
GBPUSD trend forecast November 28, 2024
The GBP/USD pair remains under pressure as the US Dollar (USD) strengthens following the latest US inflation data, which showed robust consumer spending growth for October. However, the report also signaled limited progress in reducing inflation, keeping the Federal Reserve cautious. During Thursday's Asian trading hours, GBP/USD slips to around 1.2660. Trading activity in US markets is expected to be light due to the Thanksgiving holiday on Thursday, followed by reduced hours on Friday.
The US Personal Consumption Expenditures (PCE) Price Index rose 2.3% year-over-year in October, up from 2.1% in September. Meanwhile, the core PCE Price Index, which excludes food and energy, increased by 2.8%, slightly above September’s 2.7%. Additionally, the US economy expanded at an annualized rate of 2.8% in the third quarter, matching expectations.
PCE is good for USD - optimistic inflation data, GBPUSD price is still under pressure to decrease due to better dollar. When reaching the support liquidity zone, the price will bounce back.
/// BUY GBP/USD : zone 1.26100 - 1.25900 wait
SL: 1.25500
TP: 40 - 100 - 300 pips (1.28900)
Safe and profitable trading
The GBP/USD pair remains under pressure as the US Dollar (USD) strengthens following the latest US inflation data, which showed robust consumer spending growth for October. However, the report also signaled limited progress in reducing inflation, keeping the Federal Reserve cautious. During Thursday's Asian trading hours, GBP/USD slips to around 1.2660. Trading activity in US markets is expected to be light due to the Thanksgiving holiday on Thursday, followed by reduced hours on Friday.
The US Personal Consumption Expenditures (PCE) Price Index rose 2.3% year-over-year in October, up from 2.1% in September. Meanwhile, the core PCE Price Index, which excludes food and energy, increased by 2.8%, slightly above September’s 2.7%. Additionally, the US economy expanded at an annualized rate of 2.8% in the third quarter, matching expectations.
PCE is good for USD - optimistic inflation data, GBPUSD price is still under pressure to decrease due to better dollar. When reaching the support liquidity zone, the price will bounce back.
/// BUY GBP/USD : zone 1.26100 - 1.25900 wait
SL: 1.25500
TP: 40 - 100 - 300 pips (1.28900)
Safe and profitable trading
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