GBPUSD short term Long postion
Recent fundamental news release has provided bullish momentum for GBPUSD:
Positive UK Economic Data: The latest UK economic report, such as stronger-than-expected GDP, inflation data, or PMI, signals economic resilience and supports the pound.
USD Weakness: Recent U.S. economic data may have disappointed expectations, leading to a weaker dollar as traders anticipate less aggressive Fed policies.
Risk-On Sentiment: Broader market sentiment favors riskier assets, driving inflows into GBP and out of the safe-haven USD.
Technical Setup:
morning star on 5 min
Hammer on 15 min
retracement into 50/61.8% fib levels
Place stop just below the 61.8% level
Risk-to-Reward Ratio:
1:1.5 or better.
News Impact:
Keep monitoring updates as GBP can react further to follow-up data or any statements from Bank of England policymakers.
Positive UK Economic Data: The latest UK economic report, such as stronger-than-expected GDP, inflation data, or PMI, signals economic resilience and supports the pound.
USD Weakness: Recent U.S. economic data may have disappointed expectations, leading to a weaker dollar as traders anticipate less aggressive Fed policies.
Risk-On Sentiment: Broader market sentiment favors riskier assets, driving inflows into GBP and out of the safe-haven USD.
Technical Setup:
morning star on 5 min
Hammer on 15 min
retracement into 50/61.8% fib levels
Place stop just below the 61.8% level
Risk-to-Reward Ratio:
1:1.5 or better.
News Impact:
Keep monitoring updates as GBP can react further to follow-up data or any statements from Bank of England policymakers.
Ricky Andrade also known as @RiskyRicky
(Founder of Market Masters, Inc.)
(Founder of Market Masters, Inc.)
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