This is my weekly forecast for GBP/USD. The overall trend is still very bearish IMO with price continuing to break higher timeframe structure to the downside, I am anticipating price to continue the downtrend. We are a little overextended IMO so I would not be surprised if we seen a pull back of some sort, I will be a waiting for a change of character on the 15min TF to confirm that the pullback has started (The tick blue line represents the CHoCH) We do have some high impact news out for GBP and USD some of the high impact news includes United States Durable Goods Orders, United States New Home Sales, United States Goods Trade Balance, United States GDP Growth Rate QoQ, United States Jobless Claims 4-week Average, United Kingdom GDP Growth Rate QoQ, United Kingdom BoE Consumer Credit, United States Personal Spending MoM, United States Personal Income MoM. As usual I have marked out multiple bearish POI's where we could see price react from, all of the bearish POI's that have a arrow pointing towards them are the POI's that are in the premium area but as we know that does not mean that price will definitely come to them POI's but if price does have that pull back it gives us a higher probability of price reacting to one of the POI's in the premium area.
I welcome any feedback you might have and if you have any questions feel free to message me:)
Disclaimer: I am not a financial advisor. Do not take anything on TV as financial advice, ever.
Do your own research.
Consult a professional investment advisor before making any investment decisions!
I welcome any feedback you might have and if you have any questions feel free to message me:)
Disclaimer: I am not a financial advisor. Do not take anything on TV as financial advice, ever.
Do your own research.
Consult a professional investment advisor before making any investment decisions!
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