GBPUSD | Perspective for the new week | Follow-up
Updated
Explore the GBPUSD landscape as it maintains its optimistic stance above $1.2710 market, driven by robust UK inflation data. The Pound Sterling gains strength from this report and the potential for further interest rate adjustments by the Bank of England (BoE).
With core CPI data raising inflation concerns within the UK economy, the BoE might opt for more interest rate hikes, adding more fuel to the fire of the Pound Sterling's rise. The stage is set for the GBPUSD pair to reap the benefits of this pivotal scenario.
Across the Atlantic, declining US unemployment claims for the week ending August 12 underscore the tightness of the labor market, potentially paving the way for another Federal Reserve (Fed) interest rate rise. Fresh FOMC Minutes emphasized the challenge of high inflation and the need for possible monetary policy tightening.
In the upcoming week, eyes will turn to key macroeconomic events from both economies, including the Jackson Hole Symposium and PMI data releases from the UK and US. These data points will shape market sentiment and drive opportunities for the GBPUSD pair.
GBPUSD Technical Analysis:
Will the pound find solid support at the $1.27000/$1.26700 zone, or are we heading towards a potential breakdown and a possible sell-off? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the UK and US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
Keep a close eye on that critical confluence at $1.27000, where an ascending trendline intersects in the Daily timeframe. It's a decisive moment where both sellers and buyers are vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results
With core CPI data raising inflation concerns within the UK economy, the BoE might opt for more interest rate hikes, adding more fuel to the fire of the Pound Sterling's rise. The stage is set for the GBPUSD pair to reap the benefits of this pivotal scenario.
Across the Atlantic, declining US unemployment claims for the week ending August 12 underscore the tightness of the labor market, potentially paving the way for another Federal Reserve (Fed) interest rate rise. Fresh FOMC Minutes emphasized the challenge of high inflation and the need for possible monetary policy tightening.
In the upcoming week, eyes will turn to key macroeconomic events from both economies, including the Jackson Hole Symposium and PMI data releases from the UK and US. These data points will shape market sentiment and drive opportunities for the GBPUSD pair.
GBPUSD Technical Analysis:
Will the pound find solid support at the $1.27000/$1.26700 zone, or are we heading towards a potential breakdown and a possible sell-off? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the UK and US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
Keep a close eye on that critical confluence at $1.27000, where an ascending trendline intersects in the Daily timeframe. It's a decisive moment where both sellers and buyers are vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Disclaimer:
Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy.
It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it.
Please note that past performance is not necessarily indicative of future results
Note
Amidst the current market dynamics, price action confidently maintains its position above a well-defined ascending trendline and the week's key level resting at $1.27100. These factors bolster the optimistic outlook for an ongoing uptrend. However, it's equally vital to remain mindful of potential sellers' influence, as any breakdown/retest of these structures could trigger a shift to a downtrend perspective. To navigate this scenario, we've identified a distinct trading range on the 1-hour timeframe, serving as our compass for today's trading decisions. It's important to exercise caution and patience, as bearish signals at this juncture require confirmation before any execution is considered.Good Morning
Trade closed manually
UPDATEThe sell position closed at break-even and as discussed during our live session this morning another entry is slated below the support line at $1.27250
Trade active
Currently, we have two profitable buy positions actively running. Let's take this opportunity to secure these positions.Good Morning
Trade closed manually
After a robust bearish momentum observed in the Pound Sterling yesterday, signs of buying pressure are emerging as price action interacts with the previously identified ascending trendline ($1.27250 level) from our recent live session. This situation suggests the potential for price to revere the trendline, possibly signaling a resumption of the uptrend. Refer to the chart for key levels and indications of potential trading opportunities, encompassing both buying and selling scenariosGood Morning
Trade active
Fall out from our live session this morning; Secure all seel positionsTrade closed manually
All sell positions have been successfully closed with profits. However, I am exercising caution regarding potential buy positions at this point, as price action remains below the descending trendline. We will keep a vigilant eye out for a convincing bullish set-up for trading opportunities.Trade active
A sell position has been initiated, capitalizing on the retest of the descending trendline. It seems that the retracement of the bearish impulse leg, which commenced yesterday, has been completed. As we maintain a bearish stance, it's essential to secure the position while price action remains below the descending trendline.Good Morning
Trade active
Secure all sell positions as we look forward to data from the Durable Goods Order and Initial Jobless Claim.Trade active
The US Dollar maintains its robust stance on Friday, with all eyes on Fed Chairman Jerome Powell's upcoming speech at the Jackson Hole Symposium. Amidst this anticipation, the prevailing selling pressure persists, yielding over 350 pips in profit from four positions. It's advised to secure all positions while remaining vigilant for potential trading opportunities.Good Morning
Trade active
UPDATE
Trade smart. Trade consciously
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