GBPUSD | Perspective for the new week | Follow-up

The US Dollar still portray the tendency of heading for some gain in the new week as Federal Reserve pushed back on market expectations for an early end to the aggressive interest rate hikes to combat inflation. From a technical standpoint, the consolidation phase characterized majorly by selling pressure from the $1.19700 area during last week's trading session might continue this week as a retracement into the either the trendline or $1.14000 area in anticipation of a continued bullish momentum is a strong possibility.

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Trade active:

The week has started on a bearish tone as the price tested the bearish trendline which shares a confluence with the key level at 1.1900 to push the price to the downside. So, for this week we shall be using the bearish trendline as a yardstick for trading opportunities.

Good morning

Trade active:

We discussed this during our live session this morning (video uploaded on youtub). Secure the sell position as we keep the option of a retest of either the bearish trendline or previous structure for a trend continuation to the downside.

Trade active:

Securing sell position as price action comes back into the trendline. Still looking forward to adding one more position at the breakdown/retest of the 1.18375 level.

Good morning

Trade active:

Triggered; securing the position as we lookout for opportunities to add more position(s).

Trade active:

Selling pressure continues to exist under the 1.19000 level, secure the sell position as we look forward to adding more positions below the 1.1900 level. Remember that we have major events coming up today (S&P Global/CIPS Services PMI, Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).

Trade active:

Taken out of the sell position as buy pressure increases above the 1.19000 level in the last hour and this might be a reflection of the positive data from the recent publication from S&P Global. Let's be patient and see how price action relates to the current structure before making a decision.
I am going live in 5 minutes, you might want to join us.

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FOMC coming up in 10 minutes... A huge spike is very likely at this juncture.

Trade active:

I must agree that I missed this bullish move. Congrats to those who took advantage of this move. It looks like a retracement phase is about to begin. Hence a breakdown/retest of the temporary trendline is what to lookout for.

Good morning

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After missing out on the bullish move yesterday, I can only wait for a retracement phase to happen before thinking of buying at this juncture.

Trade active:

Sell pressure continues below the 1.21150 level as projected.

Good morning

Trade active:

We talk about this at at length during our live session today (video uploaded on my youtub channel); Its time to secure the sell position

Trade closed manually:

Price takes out position at break even; I am done for the week.
Congratulations on the profitable journey this week!

Trade active:

Secure position

Trade active:

Secure position as price hits the buy zone