GBPUSD → The bearish nature of the market is confirmed. News?FX:GBPUSD behavior on H4-H1 confirms the fact of a characteristic bear market. The price is updating the local minimum and testing a strong liquidity zone before strong news
NFP, Unemployment Rate, ISM PMI are published today. The range of expected data is quite wide. Analysts are expecting an aggressive decline in NFP to 106K from the previous 254K. Do you feel the manipulation before the Fed rate meeting, as well as before the U.S. presidential election?
It is difficult to prematurely assess the fundamental environment due to the challenging economic environment.
Theoretically, the dollar may continue to feel the support in the market, while GBPUSD is sliding downwards on the background of the UK policy.
Technically, the price is testing a strong support zone and a counter-trend correction is forming after capturing some liquidity. Emphasis on 1.300 - 1.305
Resistance levels: 1.298, 1.300, 1.305, 1.310
Support levels: 1.284, 1.281
The news can have quite a wide impact on the market and it all depends on the actual data. I expect to see a continuation of the fall from 1.298-1.30-1.305 as a priority. But! Unpredictable data can turn the situation around. If the currency breaks 1.305 and consolidates above this area, the trend may stagger...
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;)
Regards R. Linda!
