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GBPUSD

#UMANGDAIRY #stockmarket Flag pattern breakout retest 25% return#UMANGDAIRY NSE:UMANGDAIRY CMP: 58.80 Target: 73++ Might hold above 73 as well. Stop Loss: 48 Time frame: Less than 2 months. Keep trailing stop loss. Factors: Rising Volume with rising Prices. Channel Median breakout. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher High & Higher Low. Broken above resistance. Trading at support. Fundamentals are strong. Risk Return Ratio is healthy. And Bullish Wedge FLAG formed. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
NSE:UMANGDAIRYLong
by Rachit_Sethia
💡Don't miss the great sell opportunity in GBPUSDTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (1.416). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPUSD is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 47. Take Profits: TP1= @ 1.410 TP2= @ 1.407 TP3= @ 1.403 TP4= @ 1.401 TP5= @ 1.397 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
6
GBP climbs on strong job data, CPI nextThe British pound touched a 3-month high earlier on Tuesday, when GBP/USD reached a high of 1.4220. In North American trade, the pair is trading at 1.4200, up 0.49% on the day. The pound received a lift from positive UK employment numbers, which were released earlier in the day. The unemployment rate for March dipped to 4.8%, down from 4.9% and a 6-month low. The number of unemployed persons in April fell by 15.1 thousand, outperforming the consensus of a rise of 25.6 thousand. This figure was all the more impressive given the recent lockdown. Wage growth slowed to 4.0%, down from 4.5%, but investors didn't let this get in the way of positive sentiment towards the pound, which pushed into 1.42-territory. The surge in consumer inflation sent the dollar higher last week and has led to speculation that the Fed may have to reexamine its ultra-accommodative monetary policy. Fed member Robert Kaplan broke ranks with Fed Chair Jerome Powell earlier this month and urged the Fed to start to discuss tapering its USD120 billion per month in asset purchases sooner rather than later. Still, the Fed line remains that any inflation surge is temporary and there are no plans to taper QE anytime soon. The Fed has long held that it would allow inflation to temporarily run above its target of 2 per cent. The key question is whether the April CPI numbers are a one-time blip or has inflation risen to a sustainable higher level. The market reaction to the CPI report was sharp, with equities falling and the US dollar gaining strength. Another release which points to higher inflation would again raise speculation that the Fed may have to tighten policy. This would be bullish for the US dollar. GBP/USD is testing resistance at 1.4180, followed by resistance at 1.4262. There are support lines at 1.4003 and 1.3908.
by OANDA
Pound steadies on sharp Construction PMIThe British pound has reversed directions on Thursday and posted slight gains. Currently, GDP/USD is trading at 1.3759, up 0.16% on the day.  It has been a week of sharp swings for the pound. The week started with GBP/USD punching above the 1.39 line, but the pair could not hold on to these gains and fell close to the 1.37 level, before steadying on Thursday. Investors ditched the pound as the AstraZeneca vaccine remains under scrutiny. The European Medicines Agency said there was a possible link with rare blood clots, and the UK responded by saying it would offer alternatives to AstraZeneca. This led to GBP/USD and EUR/GBP recording sharp losses during the week. Overshadowed by the news over AstraZeneca were fine performances by UK PMIs for February. On Wednesday, Services showed strong growth, as the PMI accelerated from 49.5 to 56.3, well above the neutral 50-level. This was followed by a sparkling Construction PMI, which jumped from 53.3 to 61.7, its highest level since September 2014.  A successful vaccine rollout in the UK has allowed the government to continue lifting health restrictions, which is boosting economic activity.  The FOMC minutes reiterated that the Fed remains in dovish mode, despite the improvement in the US economy. Policymakers at the Fed remain firmly of the view that the US economy still requires support until the recovery has deepened. With significant slack in the economy, inflation remains at low levels. The Fed believes that any rise in inflation due to improving economic conditions will be temporary. There had been some speculation that FOMC members might hint at a tapering of QE, given the sharp improvement in employment numbers, but the minutes made clear that any tapering of QE is off the table for the time being. On the downside, GBP/USD continues to test support at 1.3742. Below, there is support at 1.3650 1.3889 is the next resistance line, followed by resistance at 1.3944
by OANDA