GbpUsd expert analysis from 28-03-2022 - Weekly forex forecast
This is our expert trade idea on the GbpUsd pair. Let us look at some leading indicators. Fundamentally,
We are looking to expect the GDP release from the US and the UK on the 30th and 31st of this month which may e more favourabe for the US owing to the prevailing "cause and effect" market environment situation.
Sentimentally, despite recent interests hike rates in the UK to cushion the effect of inflation, the British pound has not seem to gain the confidence of investors.
Technically, as seen on the schematics, GbpUsd already trading below the moving average earlier broke a weekly demand zone coincidentally at the height of the tension of Russia and Ukraine crisis. We can see price made a corrective move into the previously broken demand zone and finding it difficult to break the zone. Hence, I took the risk of shorting the GbpUsd this morning.
Let us take some risks, let us make some money. Millionaire logistics
We are looking to expect the GDP release from the US and the UK on the 30th and 31st of this month which may e more favourabe for the US owing to the prevailing "cause and effect" market environment situation.
Sentimentally, despite recent interests hike rates in the UK to cushion the effect of inflation, the British pound has not seem to gain the confidence of investors.
Technically, as seen on the schematics, GbpUsd already trading below the moving average earlier broke a weekly demand zone coincidentally at the height of the tension of Russia and Ukraine crisis. We can see price made a corrective move into the previously broken demand zone and finding it difficult to break the zone. Hence, I took the risk of shorting the GbpUsd this morning.
Let us take some risks, let us make some money. Millionaire logistics
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