Hold below 1.3400, wait for data from US

Jul 30

🔔🔔🔔GBP/USD news:

➡️ The British Pound (GBP) is trading cautiously around 1.3350 against the US Dollar (USD) in European trade on Wednesday, as investors await the Federal Reserve's monetary policy announcement at 18:00 GMT.

➡️ According to CME's FedWatch tool, bond markets have almost fully priced in the possibility that the Fed will keep interest rates steady in the 4.25%–4.50% range.

➡️ Meanwhile, traders are increasingly expecting the Bank of England (BoE) to cut its key borrowing rate on August 7, as the UK labor market shows signs of cooling.

Personal opinion:
➡️ GBP/USD will remain stable below the 1.3400 region, awaiting economic data and
US Federal Funds Rate.

➡️ Technical analysis based on support resistance levels and trend lines combined with EMA to come up with a suitable strategy

Personal Plan:
🔆Price Zone Setup:

👉Sell GBP/USD 1.3400 - 1.3410
❌SL:1.3450 | ✅TP: 1.3330

FM wishes you a successful trading day 💰💰💰

Jul 30

Trade active

Selling pressure is too strong

Touched 1.3385 and dropped to 1.3270. Did not match the 1.3400 sell zone. What a pity to miss 115 pips of profit

However, the price reached the target of the decline as determined.

Jul 31

Trade closed: target reached

complete the original plan