Hello,
A clear reversal pattern is forming on GBP/USD, presenting a short-term selling opportunity toward the pattern's lower boundary. The pair remains under pressure as the US Dollar attempts to recover losses from the past two sessions. However, downside movement could be limited, given the Greenback’s vulnerability.
Meanwhile, the Pound Sterling (GBP) may find additional support ahead of Thursday’s Bank of England (BoE) policy meeting. Markets expect the BoE to maintain its current interest rates, balancing weak economic growth with persistent inflation risks. In February, the central bank lowered rates to 4.5% and revised its 2025 growth forecast downward to 0.75%, citing concerns over tax hikes and global trade uncertainties.
Given the current setup, I see an opportunity for a short position from current levels or slightly higher. The GBPNZD has already moved in alignment with this setup, adding further conviction to the trade. see below
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
A clear reversal pattern is forming on GBP/USD, presenting a short-term selling opportunity toward the pattern's lower boundary. The pair remains under pressure as the US Dollar attempts to recover losses from the past two sessions. However, downside movement could be limited, given the Greenback’s vulnerability.
Meanwhile, the Pound Sterling (GBP) may find additional support ahead of Thursday’s Bank of England (BoE) policy meeting. Markets expect the BoE to maintain its current interest rates, balancing weak economic growth with persistent inflation risks. In February, the central bank lowered rates to 4.5% and revised its 2025 growth forecast downward to 0.75%, citing concerns over tax hikes and global trade uncertainties.
Given the current setup, I see an opportunity for a short position from current levels or slightly higher. The GBPNZD has already moved in alignment with this setup, adding further conviction to the trade. see below
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
For personalized investment advisory services
Reach me on email hesbonmose001@gmail.com to join paid premium group or patreon.com/thesharkke
Free stock markets analysis Telegram channel: t.me/stocksfromtechnicaleye
Reach me on email hesbonmose001@gmail.com to join paid premium group or patreon.com/thesharkke
Free stock markets analysis Telegram channel: t.me/stocksfromtechnicaleye
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For personalized investment advisory services
Reach me on email hesbonmose001@gmail.com to join paid premium group or patreon.com/thesharkke
Free stock markets analysis Telegram channel: t.me/stocksfromtechnicaleye
Reach me on email hesbonmose001@gmail.com to join paid premium group or patreon.com/thesharkke
Free stock markets analysis Telegram channel: t.me/stocksfromtechnicaleye
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.