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Longgbpusd

Will GBPUSD continue its uptrend after good economic data?GBP/USD news: 🔆The Pound Sterling edges higher against its major counterparts following the release of the UK's Consumer Price Index (CPI) data for January, which revealed that inflation rose at a faster-than-expected 🔆However, the impact of elevated inflation is unlikely to provide sustained support for the British currency. The Bank of England (BoE) has already indicated in its latest monetary policy statement that inflation may rise temporarily due to increasing energy costs before gradually returning to the 2% target. On Monday, BoE Governor Andrew Bailey stated in an interview with BusinessLine that the anticipated inflation surge is unlikely to be persistent, emphasizing that the economy’s sluggish growth could counter inflationary pressures 🔆Nonetheless, rising inflation could limit the BoE’s ability to implement further monetary easing. Investors will now shift their focus to the UK Retail Sales data for January and the preliminary S&P Global/CIPS Purchasing Managers Index (PMI) figures for February 🔆Meanwhile, renewed concerns over US tariffs could strengthen the US Dollar. On Tuesday, President Donald Trump announced plans to impose a 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals, with the possibility of further increases in the coming year. Such measures could weigh on glob Personal opinion: 🔆GBP will continue to rise in the near future after being supported by positive economic data, although Trump's upcoming tariff policy may increase the strength of the dollar, but in the long term these tariff policies may weaken the dollar. This may make investors consider carefully, causing the dollar to continue to decline in the near future Technical analysis: 🔆Based on important resistance - support levels combined with SMA indicator to come up with a suitable strategy Plan: 🔆Price Zone Setup: 👉BUY GBP/USD 1.2600 – 1.2580 ❌SL: 1.2540 | ✅TP: 1.2630 – 1.2700 – 1.2750 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
1
Will GBP/USD rise after new economic data is released?The GBP/USD currency pair is being influenced by a number of key economic and political factors. The rise is attributed to a weaker US dollar as markets assess the impact of economic policies in a second term for President Trump. The US dollar fell around 1% following news that any new tariffs would be applied in a “moderate” manner. The pound has gained against other major currencies, although weak economic data from the UK has put pressure on government bond yields. Experts predict the Bank of England (BoE) could cut interest rates by 100 basis points this year. However, today's economic data on Claims Change and Average Earnings Index 3M/Y is positive for GBP, so the currency could trend higher in the short term Forecast: GBP/USD is currently trading around 1.225… and will follow an upward trend towards the 4H trend line with a target of 1.24xx before falling. However, it should be noted that factors such as BoE monetary policy, US economic developments and Trump administration policy decisions will strongly influence the trend of this currency pair in the coming period. Thank you for reading my comment: "FM"
Long
by FM-ForexMastermind
1
GBP / USD ! Support and good news for GBP ! signal BUYGBPUSD trend forecast November 12, 2024 The GBP/USD slipped back to recent lows on Monday, dipping below 1.2900 as traders await UK wages and jobs data set for release early Tuesday. Despite a quiet US session, risk-on sentiment remained strong, which continued to support the US Dollar. Good news data forecast for GBP with H1 support - suitable for BUY signal /// BUY GBP/USD : zone 1.28400 - 1.28200 SL: 1.27800 TP: 40 - 100 - 200 pips (1.30200) Safe and profitable trading
Long
by Moon-ForexAcademy
1
LONG GBPUSDGBPUSD has formed a symmetrical triangle up chart pattern and has created a new resistance area at 1.16423. And now GBPUSD is being corrected in the support area of the old resistance. And there is a possibility that GBPUSD will continue rising and create a new resusgance area at 1.16845 👍 So now I'm going to open a trade: BUY GBPUSD in the area of 1.14837 Take profit 1: 1.15660 Take profit 2: 1.16243 Stop Loss : 1.14178 ️ This analysis does not 100% guarantee profits, this analysis can be wrong and it can happen right. Because the market cannot be analyzed 100% correctly. The profits and risks are borne by each of you #disclaimeroN #daytrader #gbpusd
Long
by Forexcandlestars
GBP/USD. It's time for pound to gain the weight.The GBP/USD has been falling for a month now and globally since last summer. The decline in the pound led to its strong oversold. There are bullish divergences on the charts of different timeframes. We think it's time to buy the pound against the US dollar. The divergence signals of H1 and H4 charts suggest an upward movement within a few weeks. If the situation goes in this way, the bullish divergence of the weekly chart will form completely and this may stimulate a longer-term growth of the GBP. As the main option, we consider the formation of an Reverse Head-and-Shoulders figure. The first target of growth is the resistance level near 1.33000 (also, 1.33141 is a 1.618 Fibonacci extension of the 1.31943-1.30005 impulse 10-14.03; 1.33220 is a 50% fibo-correction from the decline 1.36435-1.30005 10.02 -14.03). The next target is around 1.33900 (the target of the classic Head-and-Shoulders pattern realisation with the horizontal neckline). How to trade Open long with the first target 1.33000 (close deals whole or partially). In case of partial closing, use a floating stop-loss to protect profits and, depending on the reversal pattern, determine a target level for the complete closing the trade. Set the stop-loss below 1.30000.
Long
by ForbesRatingN1