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Gbpusdforecast

GBPUSD | Perspective for the new week | Follow-upExciting times are ahead for the Pound Sterling as it makes a strong recovery during the second half of the previous week, soaring near 1.27800! The market sentiment is on the rise, and the Bank of England (BoE) is signaling a hawkish stance on interest rates, giving the GBPUSD pair even more room to climb higher. The recent interest rate decision saw a 25 basis points increase to 5.25%, fueling the optimism for further gains. In contrast, the US Dollar is facing some headwinds following the release of the US July jobs report, which showed a lower-than-expected increase in Nonfarm Payrolls with only 187,000 new jobs. This has given the Pound Sterling an added boost and raised hopes for continued momentum in the upcoming week. Of course, investors are keeping a close eye on developments as they also process the implications of Fitch's downgrade of the United States government's long-term debt rating. This could have far-reaching effects on the cable market, adding to the intrigue and excitement. GBPUSD Technical Analysis: Will the pound find solid support at $1.27000, 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, including the Consumer Price Index, Gross Domestic Product, Producer Price Index, and Consumer Sentiment Index. Brace yourselves as these events may trigger sharp price movements that could present incredible trading opportunities. In this video, we've analyzed the Daily and 4-hour timeframes, meticulously 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
by darcsherry
GBP/USD 30M Support and Resistance ZonesEmbarking on a successful forex trading journey requires understanding the intricacies of technical analysis, much like deciphering a treasure map. In this succinct analysis, we delve into the 30-minute chart of GBP/USD, unveiling pivotal support and resistance levels that offer traders valuable insights into their strategies. Support Level 1: 1.27112 Our expedition commences with a robust support level at 1.27112. This historical anchor spotlights instances where GBP/USD has found solace amid downward trends. Traders keenly observe this level, as a potential rebound could signal an impending upward shift. Conversely, a breach might signal extended declines, emphasizing the role of this support in interpreting market sentiment. Support Level 2: 1.26800 Delving deeper, the second support at 1.26800 comes into focus. This level acts as a backup foundation, potentially cushioning any downward pressure the price faces. Traders are alert for indications of the price respecting this level or potentially descending beneath it, which could stimulate increased market activity. Resistance Level 1: 1.27850 As our journey ascends, we encounter the first resistance at 1.27850. This juncture consistently challenges upward momentum, representing a significant barrier to conquer. A successful breakthrough might herald the continuation of a bullish trend, while a retreat could trigger range-bound movement. Traders closely monitor the price's reaction around this resistance to gauge its strength. Resistance Level 2: 1.28070 Progressing beyond the initial resistance, the second level at 1.28070 emerges as a pivotal milestone. Its importance lies in the potential for a price surge after surpassing the first resistance. However, it's also a likely point for profit-taking, potentially leading to temporary slowdowns or reversals. Traders observe the interplay between upward momentum and the intensity of resistance. Resistance Level 3: 1.28400 The final resistance at 1.28400 stands as the ultimate challenge before aiming for higher levels. If GBP/USD overcomes the previous resistance levels and conquers this point, it might signify a robust upward surge. Traders must prepare for increased volatility and possible corrective movements around this level. To summarize, the GBP/USD 30-minute chart unveils a dynamic landscape defined by crucial support and resistance zones. Traders closely monitor how the price interacts with these levels to infer short-term sentiment and potential market direction. While these levels are invaluable guides, comprehensive analysis, paired with prudent risk management and consideration of broader market trends, remains pivotal for constructing effective trading strategies.
by enclavefx_Analaysis
GBPUSD: Waiting for new information!The Bank of England (BoE) is widely anticipated to raise its policy rate by an additional 25 basis points to 5.25% after the August meeting. However, such a decision alone may not be sufficient to stimulate the recovery of the British pound. The BoE needs to reassure markets that they will continue tightening their policy despite signs of easing price pressures. Furthermore, the British currency could gather strength if a policy statement reveals that some policymakers have voted in favor of a 50 basis point hike.
Long
by Sphyn-Trader
GBPUSD: Everything is gradually revealed before the new news!It is important to note that Fed Chair Jerome Powell recently stated that the economy still requires a slowdown and weakening labor market in order for inflation to confidently reach the 2% target. Additionally, the latest macroeconomic data from the United States indicates a remarkably resilient economy, leaving room for one more 25 basis points rate hike by the Federal Reserve in either September or November. This further supports the high yields seen in US Treasury bonds and reinforces the strength of the US dollar. Furthermore, a generally negative risk sentiment, as evidenced by a decline in US equity futures, further enhances the safe-haven status of the US dollar. However, at least for now, any downside pressure on GBP/USD is mitigated as markets have already factored in two additional interest rate hikes by Bank of England before year-end due to persistent price pressures. As such, all eyes will be on Thursday's crucial BoE monetary policy meeting as it remains an area of focus.
Long
by Sphyn-Trader
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