🆕 GBPUSD Short Execution | SteadyTrade Ai 10:10:20 (UTC) With further inflation data coming from Europe, the US CPI report will be hotly anticipated by investors. With SaaS, users don’t need to install or update any software. Instead, users can log in through the Internet or web browser and connect to the service provider’s network to access the particular service. Last week, the British Pound lost its two-week run against the US Dollar after a little price decrease. Despite the negative warning produced by a Death Cross pattern in early September, bears were unable to gain control, leading to a bearish breakdown in the S&P 500. The 50- and 200-day Simple Moving Averages are presently trading above the price (SMA). Last week, the British Pound (GBP) enjoyed a near 1% advance against the Australian Dollar (AUD). Back-to-back losses pushed the currency pair to positive activity. Since the peak of May 2020, prices have fallen sharply. An upward reversal, indicated by a bullish engulfing candlestick formation on the 8-hour chart, occurred early last week. Last week, the GBP/AUD pair reversed after piercing a downward trendline from its August high. Bulls further boosted prices, rising over the 50-day SMA. Fibonacci retracement 38.2% seems to be giving a little barrier, but momentum is ready to push the pair higher. The MACD line is solidly trending upward and is on pace to cross above the oscillator's center line, which is a bullish indication.
If market movement continues on the downside this week, the 38.2% Fibonacci retracement from the July high/low may provide support. Below that mark, the 200-day and 50-day SMAs will get more attention. The wide perspective identifies a Symmetrical Triangle. After prices fell in late July, a consolidation pattern began. The triangle's support level began to form in mid-August. An prolonged rise or fall may take place depending on whether the pattern is broken. However, until that happens, the overall bias remains neutral. The British pound, euro, and New Zealand dollar all lost ground versus the US dollar in Asian trading today, after a mixed day overall. With Alibaba as a central point of focus, the Chinese Communist Party proceeded to execute its ‘common prosperity' program. The Hang Seng Index in Hong Kong and the mainland Chinese indexes were significantly down because of this. The US PPI rose 0.7% for the month of August, 0.1% more than anticipated. The inflation issue has been reinvigorated by the fact that many G10 CPI figures are to be released this week. In The New York Times, Paul Krugman argued over the weekend that this time around, inflation will be like the 1951 kind, rather than 1979. It seems to him that higher price levels will be temporary. It seems that the market believes that the benchmark US 10-year inflation rate is fixed at 2.39% because of the Treasury Inflation-Protected Securities' pricing (TIPS).
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📢 Signal#:19
🏦 OrderType: Sell
💰 OrderSize: 1.00
💱 Symbol: GBPUSD 🇬🇧🇺🇸
📈 OpenPrice: 1.38216
⏰ Expiration: -/--
🎯 TakeProfit: ***
🛑 StopLoss: ***
TP/SL managed by A.I
