My trade idea for GBPUSD:
DXY (USD) News:
On 2nd April 2025, US president Donald Trump announced tariffs of 10% on most imports and up to 145% on Chinese goods. This has led to significant market volatility. Investors are increasingly concerned about the U.S.'s economic direction, prompting a shift away from dollar-denominated assets. This sentiment has been exacerbated by fears of a potential recession, as highlighted by JPMorgan Chase's forecast.
Major foreign investors, including those from China and Japan, are reportedly reducing their holdings in U.S. Treasury bonds. This retreat diminishes demand for the dollar, contributing to its depreciation.
Conclusion: We can expect a further decline in DXY price. Possible opportunity to long XXX/USD pairs.
BXY (GBP) News:
The UK economy grew by a faster-than-expected 0.5% in February, official figures showed.
Conclusion: With US placing tariffs globally, we can expect USD weakness over the next 2-3 weeks. GBP holds its ground with strong economic figures from Q1.
My trade position:
Between 14 - 18 Apr, I will be monitoring price action. Looking to buy below 1.32 with the first target being 1.35. 1.29 offers strong support.
DXY (USD) News:
On 2nd April 2025, US president Donald Trump announced tariffs of 10% on most imports and up to 145% on Chinese goods. This has led to significant market volatility. Investors are increasingly concerned about the U.S.'s economic direction, prompting a shift away from dollar-denominated assets. This sentiment has been exacerbated by fears of a potential recession, as highlighted by JPMorgan Chase's forecast.
Major foreign investors, including those from China and Japan, are reportedly reducing their holdings in U.S. Treasury bonds. This retreat diminishes demand for the dollar, contributing to its depreciation.
Conclusion: We can expect a further decline in DXY price. Possible opportunity to long XXX/USD pairs.
BXY (GBP) News:
The UK economy grew by a faster-than-expected 0.5% in February, official figures showed.
Conclusion: With US placing tariffs globally, we can expect USD weakness over the next 2-3 weeks. GBP holds its ground with strong economic figures from Q1.
My trade position:
Between 14 - 18 Apr, I will be monitoring price action. Looking to buy below 1.32 with the first target being 1.35. 1.29 offers strong support.
Trade active
Strong resistance at 1.32. Lets see if it breaks upwards!
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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.
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.