GBPUSD - Easy intraday or swing sell
Updated
There is a sell opportunity on GU because of USD strength
Fundamentals
Look out for USD news this week. If no shocking difference than forecast I don't see why DXY won't go up.
→ Prelim GDP q/q ( Thursday 28 May )
→ Unemployment Claims ( Thursday 28 May )
→ Core PCE Price Index m/m ( Friday 29 May )
Visit https://www.forexfactory.com/ or https://www.investing.com/ to check release time according to your timezone
Technicals GBPUSD
→ We rejected a major resistance zone which we touched multiple times since June 2023
→ We breached a 4H trendline
→ Daily engulfing bearish candle
Technicals DXY
→ We came into support and are heading up.
→ We do have a zone here which can act as resistance, but I expect that we will breach it.
→ We broke out of trendline and retested it and gone up.
Your trading friend,
Simba Trades
Fundamentals
Look out for USD news this week. If no shocking difference than forecast I don't see why DXY won't go up.
→ Prelim GDP q/q
→ Unemployment Claims
→ Core PCE Price Index m/m
Visit https://www.forexfactory.com/ or https://www.investing.com/ to check release time according to your timezone
Technicals GBPUSD
→ We rejected a major resistance zone which we touched multiple times since June 2023
→ We breached a 4H trendline
→ Daily engulfing bearish candle
Technicals DXY
→ We came into support and are heading up.
→ We do have a zone here which can act as resistance, but I expect that we will breach it.
→ We broke out of trendline and retested it and gone up.
Your trading friend,
Simba Trades
Note
Play hasn't played out we do have tomorrow USD news to re-adjust but as of today probability is too low to take a tradeOrder cancelled
DXY too bearish (also expected due to USD news) This play totally invalid. Let's re-group for a next one.Note
DXY bullish outlook thats why probability is bearish for GU. Looking for short this week to next support zone. We need to break that next support zone to confirm further sells
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