GBPUSD | Perspective for the new week | Follow-up
Updated
The U.K. economy reflected signs of positivity with preliminary estimates showing gross domestic product rose by 0.3%. However, the potential to raise interest rates at the BoE's next meeting in two weeks’ time remains on the table as inflation has been running at around 10% for the last six months. From a technical perspective, it is obvious that price action is still going through an indecisive phase as we anticipate next week's fundamental data for clues. In this video, we looked at our chances to either buy or sell the Pound in the coming week.
00:38 Reference to last week's daily commentaries and results
03:50 GBPUSD Technical analysis on Daily chart
07:55 Macroeconomic events to look out for the week
11:45 GBPUSD Technical analysis on 4H Timeframe
09:53 Conclusion on next week's expectation for GBPUSD
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
00:38 Reference to last week's daily commentaries and results
03:50 GBPUSD Technical analysis on Daily chart
07:55 Macroeconomic events to look out for the week
11:45 GBPUSD Technical analysis on 4H Timeframe
09:53 Conclusion on next week's expectation for GBPUSD
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The week has started on a bullish note as price action breaks out of the resistance level for the week located at the 1.21050 level. So, we lookout for buying opportunities above this structure.Good morning
Trade active
Just as discussed during our live session this morning; Secure buy position(s)Trade active
Secure the buy position as sellers continue to negate all bullish attempts at the 1.22000 level, we shall be anticipating a selling opportunity at the breakdown/retest of the 1.21450 level while our buy option remains open.Good morning
Trade active
Still waiting... Trade active
Still holding on to the bullish bias as we anticipate a breakout/retest of the 1.22000 level for more buying opportunitiesTrade active
Secure buy position as selling pressure continues as we look forward to a breakdown/retest of the 1.21450 level for selling opportunities.Good morning
Trade active
Just as discussed during our live session this morning; Secure sell positionTrade active
Two positions running, secure all sell positionsTrade active
Trade active
Secure all sell positionsTrade closed manually
After being taken out of the sell position with approximately 100pips, let's remain patient and see how price action reacts to the 1.20750 zone for the next line of action. The structure still looks bearish considering the bearish trendline.Good morning
Trade active
Just as discussed during our live session a couple of minutes ago, secure sell positionTrade active
Secure all sell positions as the appearance of buying pressure around the 1.20350 (price unable to find a new low) could incite buying opportunities at the breakout/retest of the 1.2750. Watch the replay of our live session this morning for detailsTrade active
With the continued buying pressure above the 1.20350 level, a reversal structure is identified on the lower timeframeTrade active
Trade active
Secure buy positionTrade active
Secure all buy positions as selling pressure resumesTrade closed: target reached
Over 150pips in profit from 2 positions as price action hit TP target. We shall monitor the current structure for trading opportunities. Update coming up soonGood morning
Trade active
Just as discussed during our live session this morningNote
Trade active
Secure sell position as we edge close to the release of the consumer sentiment index dataNote
Trade smart. Trade consciously
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