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GBPUSD week outlookMy current outlook on GBPUSD. Right now we are in a middle ground for this pair. The Daily and higher timeframes are bearish and we are approaching a resistance on these higher timeframes. On the H4 and lower, we are in an uptrend currently. For me to look for price to continue bullish, I would need to see price respect the key psyc level and H4 exhaustion zone in the 1.2100 zone. If this key level is broken, I will be looking for sells on the following H4 lower high and exhaustion zone that we are keying on for this level. This would also create a retest on the backside of the H4 trendline. Patience is all we have to have now. I have alerts set and will not touch until one of these setups form.
by TreyTurnerTraderSphere
GBPUSD 06/09/2022The price is currently ranging in between 1.1601 & 1.1503 creating a new resistance & support. so if the price makes a breakout of the resistance then it could push upto the next resistance at 1.1648 on short timeframe pov. and if price even breaks & closes above 1.1648 on higher tf pov then price might push all the way to 1.1752 & would be breaking out of the downtrend and shift towards an uptrend. However, if price respects the resistance & breaks out of the support at 1.1504 then it could continue to push down to the previous low at 1.1443.
by mightybullcapital
1
GU Leadership day. Sunack vs TrussToday at 1130 we expect the results of the conservative leadership race. Sunack vs truss. Truss is the obvious favourite to win but she is bad for GBP. her polices are inflationary and she can't understand that lowering taxes and increasing the money supply will further cause inflation. the UK economy is already expected to see 13-16% inflation by April 23. honestly the UK is on its way for a serious economic downturn in my opinion., complete lack of leadership investment and now either way we go 90% of the British public don't want either of these running the show. but then again who else would do it. we don't exactly have a leader in the Labour Party either. anyway going off topic. I expect as we are approaching the floor GU has never broken below I expect buying pressure. there's also the 4th touch trend line support in the same area and we have had continued selling pressure prior to the news. is this going to be a sell the rumour buy the news. more than likely in my opinion. for that to happen you would need Sunack to win. although this may be against the odds I could see this happening. ill be buying at 1.14190 and closing at 1.15850 if not sooner depending on outcome
by JamesFlem
1