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Gbpusdupdate

GBPUSD Weekly Outlook: New perspective for the week | Follow-upCurrently, the GBPUSD appears to be in a bullish consolidation phase, trading just below a 15-month peak. Thursday and Friday's trading sessions witnessed the pair oscillating within a narrow range, highlighting the prevailing indecision in the market. As trading activities remain at their highest levels since April 2022, we question whether the bulls are losing momentum or if we are on the cusp of significant profit-taking activities as the new week approaches. The US Dollar continues to face selling pressure after reaching a fresh 15-month low, as market expectations solidify that the Federal Reserve (Fed) is nearing the end of its policy tightening cycle. Conversely, the Pound Sterling draws support from growing speculation that the Bank of England (BoE) may need to raise interest rates further to curb demand and lower inflation. Looking ahead to the next trading session, market participants eagerly await impactful economic data from both the UK and US dockets to gain crucial insights and direction. GBPUSD Technical Analysis: Specific attention was placed on the 4-hour and 1-hour timeframes. We explore both bullish and bearish sentiments, uncovering potential trading opportunities for the upcoming week. We closely examine key levels, trendlines, and support and resistance levels to reveal essential insights into the current market structure. Of particular interest is the key level at $1.31000, which underwent multiple tests in the past two days, indicating the presence of buyers at this critical juncture. However, the persistent rejection of the peak price at $1.31400 suggests a potential reversal that could break the key level, triggering a sell-off. The market's reaction to this zone at the start of the upcoming week will play a pivotal role in shaping the direction of price action in the following days. Stay connected to the channel and actively engage in the comment section to stay informed about the latest updates and developments. Thank you for watching, and I am excited to provide you with further insights into my upcoming content on the GBPUSD. Prepare for an enlightening journey ahead! 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
4
GBPUSD Weekly Outlook: New perspective for the week | Follow-upThe Pound Sterling experienced a notable rise of 2.16% to reach 1.27 during the month of June. Despite the relatively weak first-quarter gross domestic product growth of just 0.1%, the sterling showed potential for a continuation of its upward trend. Interestingly, traders have been factoring in additional rate hikes from the Bank of England due to the country's persistently high inflation rate, which stood at 8.7% in May, the highest among major advanced economies. In contrast, Federal Reserve Chair Jerome Powell has indicated that the U.S. central bank is likely to resume its rate-hiking cycle after a pause in June. Recent data revealed that the U.S. economy grew more than initially estimated in the first quarter, and jobless claims data indicated a robust labor market. One of the highly anticipated economic releases from the U.S. is the June official employment report, scheduled for release next Friday. Market consensus suggests an increase of 200,000 in payrolls. These indicators demonstrate that the U.S. economy is showing resilience despite persistent inflation concerns. How will the GBPUSD pair respond to these upcoming events? This video presents a comprehensive analysis of the bullish and bearish sentiment in GBPUSD, with a particular focus on the technical examination within the Daily and 4-hour timeframes. Key levels, trendlines, and support and resistance levels are explored to identify potential trading opportunities for the upcoming week. Of note, attention is drawn to the week's key level at $1.27000, which aligns with a descending trendline identified in the 4-hour timeframe. The market's reaction to this zone at the beginning of the week will play a crucial role in determining the direction of price action in the days ahead. Make sure to stay connected to the channel and actively engage in the comment section to stay informed about the latest updates and developments. Thank you for watching, and I am excited to provide you with further insights into my future content. 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
GBPUSD | Perspective for the new week | Follow-upBritish consumers remain affected by an elevated inflation rate, which stayed in double digits in March. Comments from a couple of Fed policymakers pointed to the US central bank raising interest rates by 25 basis points in early May, judging that inflation is still at problematic levels and monetary policy needs to be tightened. The market's immediate reaction to these sentiments has been positive as the US Dollar edged higher Friday and looks set to a bearish tone for the GBPUSD in the coming weeks. However, technical levels on the chart around the 1.23600 zone suggest bears need a whole lot of momentum and fundamental stimulus to break through this zone first as it does have a strong memory for buying power. With no high-impact fundamental stimulus from the UK docket in the coming week; the video illustrates what to look for in the current market structure to signal a buy or sell move 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.
by darcsherry
1