GBPUSD | Perspective for the new week | Follow-up
Updated
U.S. consumer spending rose moderately in February, while inflation showed signs of cooling hereby boosting hopes the Federal Reserve would be less aggressive in hiking interest rates. On the other hand, a dim economic outlook overshadows data revealing Britain avoided a recession in the final months of 2022 could be a turning point for the Sterling as it hit resistance again at the close of last week's trading session at the $1.24500 zone. In this video, we did a technical analysis of the current market structure to decipher what to look out for in the coming week as all eyes will be on the NFP data amongst other high-impact macroeconomic events this week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The new month has started on a bearish note and we are going to use the newly identified range on the 1H timeframe to guide our trading activities for today.Good morning
Trade active
Fall out from our live session this morningTrade active
Selling pressure might resume any time soonTrade active
Price action conitnues to find higher high hereby missing out on this bullish momentum. A breakout/retest of the 1.24200 level will welcome buying opportuniites today. See you soon at the morning live sessionGood morning
Trade active
Fall out from our morning live session, secure buy positionTrade active
Trade active
The consolidation phase extends into the early hours of today. Ensure all buy positions are secured while we wait for more trading opportunities.Good morning
Trade active
Be on standbyTrade active
Secure sell positionTrade closed manually
Price action takes out the sell position as buying pressure resumes. Let's hold on and see how price action reacts to the 1.24700 Level for the next line of action.Good morning
Trade active
Just as discussed during our live session this morning. 2 positions running in profit, secure all sell positionsTrade closed manually
Buying pressure resumes as the tendency of the breakout/retest of the trendline increases. A detailed explanation of the current market structure ahead of the NFP during our morning live session.Good morning
Trade active
UPDATETrade active
Secure sell positionTrade active
The Greenback's immediate reaction to the below expectation of NFP data has been bullish so far. Ensure the position is securedTrade active
Secure sell position as the second position was triggered at the breakdown of the 1.24200 level
Trade smart. Trade consciously
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.