GBPUSD may test the local support amid the pre-news correction of the DOLLAR. Traders are waiting for inflation data, high volatility is possibleThe fundamnetal situation is predisposed in favor of the pound sterling, which has an advantage on the back of the falling dollar, which is likely to take a medium-term position on the back of the Trump administration.
Technically, GBPUSD is consolidating above the key support zone of 1.286 - 1.280 below which a huge pool of liquidity has formed which could be tested before the trend continues.
Important news ahead. Traders are waiting for CPI data. High volatility is possible
Resistance levels: 1.2938 (trigger)
Support levels: 1.2868, 1.281, 1.2728
Bulls may be aggressive and keep the price from correcting downwards. In this case, price consolidation above 1.2938 could be a good entry point for the continuation of growth. But because of the upcoming news, I would prefer to wait for a retest of the liquidity zone 1.2868 - 1.281 before taking action to open a position.
Regards R. Linda!
Trade active
Support retest forms a rebound and the price updates the local maximum. The growth may continue after price consolidation above 1.298
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
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.