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Gbpusdsetup

GBPUSD: Bears are still too strong!TECHNICAL ANALYSIS If GBP/USD climbs above 1.2380, which is the 20-period SMA and the upper limit of the descending channel, and utilizes it as support, it may face temporary resistance at 1.2400 and 1.2420 before aiming for 1.2450, which is the Fibonacci 23.6% retracement of the latest uptrend. If it goes downwards, the first support is at 1.2330, the midpoint of the descending channel, followed by 1.2300 and 1.2240, which are the psychological level and Fibonacci 50% retracement respectively.
Short
by Jiren-SphynChannels
GBPUSD | Perspective for the new week | Follow-upThe U.S. dollar rose against the Pound Sterling on Friday and was on track for its biggest weekly gain since February despite concern about the U.S. debt ceiling and monetary policy. The aftermath of the consumer sentiment data is rippling a mixed reaction across the market ahead of the new week. Participants continue to digest features from the U.K economic docket which revealed that the gross domestic product grew by 0.1% in the first three months of 2023 coupled with a key interest rate hike by another 25 basis points data are significant factors that will come into play during the early hours of the coming week as we anticipate another handful of economic data. In this video, we have spotted structures and levels to look out for trading opportunities in the coming week(s). 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.
by darcsherry
1
GBPUSD: The influence of the dollar!Fundamental Overview of me Last week, GBP/USD suffered a loss of almost 200 pips. However, the new week has started on a positive note for the pair as it has made a recovery towards 1.2500. As there are no major data releases planned, the pair's movement for the day will depend on the risk perception. During the second half of the previous week, GBP/USD was continuously under bearish pressure, as USD gained strength from safe-haven flows. Additionally, the cautious approach of the Bank of England towards further rate hikes and Governor Andrew Bailey's positive outlook on inflation added to the burden on Pound Sterling. Plan trade in the intro
Short
by Sphyn-Trader
4