GBPUSD | Perspective for the new week | Follow-up
The previous week saw the Pound sterling reach 1.2600 zone against the US dollar, reflecting positive reactions to the S&P Global/CIPS data. Even amidst mixed economic signals from the US, including robust Services and Composite PMIs but a contracting Manufacturing PMI, the GBPUSD pair maintained its strength. In the UK, inflation has shown signs of cooling down but remains significantly above the Bank of England's target rate, registering at 4.6%.
Looking ahead, traders are preparing for further guidance from BoE Governor Andrew Bailey's speech next week and key US economic reports such as Consumer Confidence and ISM Manufacturing PMI that could influence future movements of this asset.
If you're interested in gaining technical insights into the potential trajectory of the GBPUSD pair and how to navigate these market developments, be sure to watch the full video.
GBPUSD Technical Analysis:
Will the pound continue its trajectory and sustain its momentum above the $1.26000 zone? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the UK and US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
We are keeping a close eye on the potential range between $1.26000 and $1.25000 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Looking ahead, traders are preparing for further guidance from BoE Governor Andrew Bailey's speech next week and key US economic reports such as Consumer Confidence and ISM Manufacturing PMI that could influence future movements of this asset.
If you're interested in gaining technical insights into the potential trajectory of the GBPUSD pair and how to navigate these market developments, be sure to watch the full video.
GBPUSD Technical Analysis:
Will the pound continue its trajectory and sustain its momentum above the $1.26000 zone? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the UK and US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
We are keeping a close eye on the potential range between $1.26000 and $1.25000 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
Trade active:
The new week is beginning with a period of consolidation as market participants digest the impact of last week's economic data and prepare for the upcoming economic events. During the Asian session, trading was limited to a range between 1.26110 and 1.25910, but it seems that there may be a breakout from this range as the market attempts to extend gains for the third consecutive session. The upward momentum may be attributed to the hawkish stance of Bank of England officials. Currently, the market is maintaining a bullish outlook. We will delve deeper into these market conditions during our live session this morning.
Good Morning
Good Morning
Trade active:
#GBPUSD
UPDATE
UPDATE
Trade active:
The Pound continues its upward momentum, with both buy positions still active. The US Dollar remains on the defensive, impacted by sluggish US Treasury bond yields, while market attention is focused on speeches from Fed officials for potential trading signals. The strength of the Pound reflects the UK economy's resilience against tightening measures by the Bank of England. Conversely, recent reports from the US deliver a concerning update, indicating a sharp decline in New Home Sales for October, attributed to elevated mortgage rates.
In anticipation of the speeches from both economies today, we cannot ignore the continued selling pressure around the 1.26380 level, which has been a strong barrier for buyers since the week began. In this regard, we will be looking at the newly identified ascending trendline as our guiding light for today's trading session.
Good Morning.
In anticipation of the speeches from both economies today, we cannot ignore the continued selling pressure around the 1.26380 level, which has been a strong barrier for buyers since the week began. In this regard, we will be looking at the newly identified ascending trendline as our guiding light for today's trading session.
Good Morning.
Trade active:
#GBPUSD
Three buy positions triggered with a total of 100 pips; protect positions while we look out for new trading opportunities
Three buy positions triggered with a total of 100 pips; protect positions while we look out for new trading opportunities
Trade active:
UPDATE
Trade active:
250 pips in profit from four buy positions; It is time to protect more positions as we look out for more trading opportunities.
Good Night
Good Night
Trade active:
#GBPUSD
After gaining over 320 pips across five buy positions, the GBPUSD continues its upward trajectory, marking the fifth consecutive day of positive traction and ascending to a fresh three-month high. The USD finds itself under pressure as market sentiments lean towards the belief that the Federal Reserve has concluded its rate hikes, potentially paving the way for policy easing in 2024.
Adding to the US Dollar's woes is the generally optimistic tone surrounding US equity futures, acting as a further tailwind for the GBPUSD pair. Notably, fading prospects for an early rate cut by the Bank of England contribute to the robust momentum.
However, amid this stellar performance, it's crucial to acknowledge the absence of significant market-moving macro data from the UK today. Meanwhile, the US economic docket takes the spotlight with the release of the second estimate of third-quarter GDP growth figures. The performance of US bond yields will be a key determinant in shaping USD dynamics, providing impetus to the GBPUSD pair.
In light of these considerations, we remain vigilant, protecting all buy positions, and adopt a patient stance to observe how market participants anticipate the upcoming economic event.
Good Morning
After gaining over 320 pips across five buy positions, the GBPUSD continues its upward trajectory, marking the fifth consecutive day of positive traction and ascending to a fresh three-month high. The USD finds itself under pressure as market sentiments lean towards the belief that the Federal Reserve has concluded its rate hikes, potentially paving the way for policy easing in 2024.
Adding to the US Dollar's woes is the generally optimistic tone surrounding US equity futures, acting as a further tailwind for the GBPUSD pair. Notably, fading prospects for an early rate cut by the Bank of England contribute to the robust momentum.
However, amid this stellar performance, it's crucial to acknowledge the absence of significant market-moving macro data from the UK today. Meanwhile, the US economic docket takes the spotlight with the release of the second estimate of third-quarter GDP growth figures. The performance of US bond yields will be a key determinant in shaping USD dynamics, providing impetus to the GBPUSD pair.
In light of these considerations, we remain vigilant, protecting all buy positions, and adopt a patient stance to observe how market participants anticipate the upcoming economic event.
Good Morning
Trade active:
UPDATE
Buying pressure is observe ahead of the GDP data
Buying pressure is observe ahead of the GDP data
Trade active:
Protect all sell positions
Trade active:
The sell position was closed with a modest gain of at least 50 pips as buying pressure resumed at the test of the resistance line of the range identified at the beginning of the week, specifically around the 1.26110 zone. The GBPUSD is exhibited signs of recovery, trading higher around 1.2650 during the Asian session.
This upward movement is attributed to the asset's resilience against a weaker US Dollar, fueled by subdued US Treasury yields. The Pound Sterling appear to have received additional support from hawkish signals sent by Bank of England (BoE) officials throughout the week. The anticipation that the BoE will sustain higher interest rates for an extended period, especially considering inflation is currently more than twice the central bank's target, has bolstered the GBP.
Today, market participants eagerly await key indicators such as Nationwide Housing Prices from the United Kingdom and the US ISM Manufacturing PMI for November. Additionally, all eyes will be on US Federal Reserve Chairman Jerome Powell’s speech for crucial cues. These events hold particular significance as they unfold on both the last trading day of the week and the first day of the month simultaneously.
As we anticipate these impactful events, our trading strategy will be guided by newly identified levels on the chart. Join us for today's live session as we analyze market dynamics and seek out potential trading opportunities in this trading environment.
Happy New Month!
This upward movement is attributed to the asset's resilience against a weaker US Dollar, fueled by subdued US Treasury yields. The Pound Sterling appear to have received additional support from hawkish signals sent by Bank of England (BoE) officials throughout the week. The anticipation that the BoE will sustain higher interest rates for an extended period, especially considering inflation is currently more than twice the central bank's target, has bolstered the GBP.
Today, market participants eagerly await key indicators such as Nationwide Housing Prices from the United Kingdom and the US ISM Manufacturing PMI for November. Additionally, all eyes will be on US Federal Reserve Chairman Jerome Powell’s speech for crucial cues. These events hold particular significance as they unfold on both the last trading day of the week and the first day of the month simultaneously.
As we anticipate these impactful events, our trading strategy will be guided by newly identified levels on the chart. Join us for today's live session as we analyze market dynamics and seek out potential trading opportunities in this trading environment.
Happy New Month!
Trade active:
Just as discussed during our live session today; buy position triggered at the breakout/retest of the 1.26500 Level
Trade smart. Trade consciously
Bank of England Governor's affirmation of the central bank's commitment to addressing inflation and bringing it down to the 2.0% target adds a hawkish tone, potentially supporting the Pound Sterling in today's trading session. Concurrently, the recent decline in US bond yields in the last three sessions has exerted downward pressure on the US Dollar.
As we navigate the market, all eyes are on the Core Personal Consumption Expenditures - Price Index from the US today, which will serve as a key determinant of future monetary policy. Meanwhile, our center of focus will remain within the range as this will serve as our guiding light for today's trading session.
Good Morning.