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Gbpusd_forecast

GBPUSD BullishGBPUSD create in daily Lower Low & RSI indicate Higher Low! So, its a clear strong Bullish Divergence! 1st TP 1.374xx 2nd TP 1.379xx GBP/USD has hit a fresh five-month low as worries about the Delta covid variant rise. GBP/USD's tumble below the 1.359xx it was also exacerbated by the risk-off mood in markets, which favors a light to the safety of the US dollar. The delta strain is spreading rapidly all over the world, causing investors a rethink the economic recovery. The dollar's breather early on Wednesday and cable's inability to take advantage of it is a bearish sign. A currency pair that cannot recover is set to tumble. Advanced vaccination campaigns in the US and especially the UK should keep hospitalizations and deaths at low levels – this wave is far less deadly than the previous ones. However, the suffering has yet to peak – it is still not the time to buy the Delta dip. Sterling was also hit by dovish comments from Monetary Policy Committee member Jonathan Haskel, who prefers refraining from tightening. Brexit issues continue weighing on the pound. The EU and the UK remain at loggerheads around the Northern Irish protocol. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
Long
by mahfuzazim_TA
GBP USD Swing LongGBP USD has reached its weekly support level and it is lining up nicely with the bottom of the daily channel. As for the 4 HR timeframe Price is still heavily bearish. 1.37000 is a strong Key level that hasnt bee broken since February this year. Price has always bounced 300 + pips from here. I am looking to get into a buy either at 1.37000 and ride up to 1.4000 for a high risk high reward PIP count or wait for a bullish run and a pullback to retest the descending 4hr Trendline i have drawn above. Bullish Bias: Entry: 1.37000 area SL: 1.36500 TP: 1.3800, 1.3900, 1.400
Long
by Dr_Drre
GBPUSD bearish ultimately!GBP/USD has been benefiting from PM Johnson's reopening announcement last day. Prime Minister Boris Johnson's message when announcing that "Freedom Day" will arrive on July 19. England will ditch hundreds of COVID-19-related restrictions and reopen its economy in what has also been dubbed the "Big Bang." Sterling has cheered in response. “England will ditch hundreds of COVID-19-related restrictions and reopen its economy in what has also been dubbed the ‘Big Bang.’ The opposition and health officials criticized the decision and there is plenty of time until July 19 for the PM to change his mind, as in previous occasions. If the Delta variant – responsible for 97% of cases in the UK – continues spreading fast, sterling could fall.” “Brexit refuses to disappear and seems to already be weighing down on the pound. Maroš Šefčovič, the EU´s point 'man on the topic, said that the bloc would step up legal proceedings without any moves from the UK to remedy the violation of the agreement. London and Brussels are at odds over the implementation of the Northern Irish protocol.” Another headwind may come from a greenback comeback. The dollar tumbled in response to the Nonfarm Payrolls report, which exceeded expectations on the headline but lacked in terms of wage growth. After traders took profits on bullish positions against the currency ahead of the long weekend, the dollar is beginning to stabilize. Data may provide it another boost. Technically GU create bearish trend with falling wages.
Short
by mahfuzazim_TA