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ex_rico
Mar 5, 2024 12:52 PM

GBP/USD - Interesting sell zone! (Swing) Short

British Pound/U.S. DollarFXCM

Description

Hello everyone!

- Here's my view on GBP/USD:

- We have liquidity. (Recovery and Accumulation!)
- We have an interesting zone.
- We have the optimal Fibonacci.
- We have accumulation before/on the zone.
- We are with the trend.

Fundamentally, we have a very strong USD.
Particularly thanks to the very positive NFP for the US, among other factors!
10Y T-Notes have risen by 3%, so far everything is going well for the USD, so it's advisable to favor sales on pairs with XXX/USD.

But we also have the UK entering a recession, so we have a pound that's very affected but still seems to be fighting not to depreciate too much following this recession, supported by several financiers in the UK; investors are mixed.

That's why I see GBP/USD rebounding in the zone and dropping!

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