BUY GBPUSD H4 Channel

Central Bank Meetings:

Bank of England Monetary Policy Committee (MPC): This takes center stage on Wednesday, January 10th. A 50 basis point (bps) rate hike is widely anticipated, but the market will be looking for any hints about the future trajectory of rates. A more aggressive tightening path could strengthen the pound against the dollar.

Economic Data:

US Non-Farm Payrolls (NFP): Released on Friday, January 6th, a strong jobs number could strengthen the dollar and weigh on GBP/USD. Conversely, a weak reading could have the opposite effect. 400,000 new jobs are expected, which would be positive for the US economy.

UK GDP: The Gross Domestic Product (GDP) data for December on January 10th. Consistent economic growth could support the pound, while a slowdown could weaken it. The market expects a 0.3% month-over-month increase.

Weekly Forecast (Jan 8 to Jan 12) :
GBP/USD - H4 Chart - Channel Formation

Always wait for strong Conformation in Short term for entry. 👈👈👈

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Comment:

1. U.S. CPI data Yesterday, grew slightly more than expected, But still there is Double side Movements In USD Pairs and Gold in this week.

2. Because, have increased their bets that the Fed will begin cutting rates by as soon as March, The tool showed traders pricing in a 70.2% chance for a 25 basis point cut in 2024, up from the 64.7% chance seen a day ago.