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FOREXN1
Dec 27, 2022 9:51 AM

GBP/USD:SELL From Resistance Trendline Bearish Channel SHORT Short

British Pound/U.S. DollarFXCM

Description

GBP/USD inside a Bearish channel today can have a reversal from the upper side of the dynamic trendline of the channel resistance for a new reversal in the direction of the main trend. The Stochastic indicator is in the overbought area with divergence and we are looking for a new reversal on the lower side of the chart. Today there is the US Unemployment Claims that measure The number of individuals who filed for unemployment insurance for the first time during the past week, Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy. If this data will show a lower number of claims, this will give a boost for the USD to grow and for the GBP to fall.

Comment

Comments
Lingrid
Thanks for sharing, very nice
FOREXN1
@Lingrid, Thanks
JoeChampion
Good view mate, thanks!
FOREXN1
@JoeChampion, Cheeers
KlejdiCuni
I am watching for the same price development close to the upper resistance. Thanks
FOREXN1
@KlejdiCuni, cheers!
DeGRAM
Well done
FOREXN1
@DeGRAM, Thanks !
InvestMate
I believe we are in for a decline
FOREXN1
@InvestMate, Very long view , I like anyway
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