**GBP/USD Market Outlook & Analysis**
**📊 Price Action & Key Levels**
- **GBP/USD trades around 1.29300** in a narrow range, struggling for momentum.
- Last week’s **high of 1.29900** remains a key resistance level.
- **Key Support Levels:**
- **1.29000 (Psychological level)** → A breakdown may trigger more downside.
- **1.2850 (Next key support)** → Watch for buying interest.
- **Key Resistance Levels:**
- **1.2990 (Last week's peak)** → A breakout could open doors for **1.3050+.**
**🌍 Fundamental Drivers**
- **USD Weakness:**
- Fears that **Trump’s tariffs could slow the US economy** weigh on the dollar.
- Weak US inflation and a **cooling labor market** increase **rate cut expectations** for 2024.
- University of Michigan’s **Consumer Sentiment Index fell** to a 2.5-year low, fueling bearish sentiment.
- **GBP Struggles Despite BoE Expectations:**
- **UK GDP contracted by 0.1% in January**, capping the pound’s upside.
- However, **expectations that the BoE will cut rates more slowly than the Fed** provide support for GBP/USD.
**📅 Key Events to Watch**
- **Monday:** US **Retail Sales & Empire State Manufacturing Index**.
- **Wednesday:** **FOMC meeting** → Market expects no rate change but will closely watch guidance.
- **Thursday:** **BoE meeting** → If policymakers signal slower rate cuts, GBP could strengthen.
**📈 Trading Strategy & Takeaways**
- **Bullish bias above 1.29300** if the dollar remains under pressure.
- **Break above 1.29400** could see GBP/USD testing **1.3050** in the short term.
- **If 1.29000 breaks,** watch for a potential dip toward **1.28500** before buyers step in.
- **Major volatility expected midweek** with FOMC & BoE—trade cautiously!
📢 **Final Word:** GBP/USD remains in a tug-of-war between a weak USD and soft UK data. Stay patient and wait for confirmation before making moves! 💹🔥 #Forex #GBPUSDhttps://www.tradingview.com/x/MSGisUmT/
**📊 Price Action & Key Levels**
- **GBP/USD trades around 1.29300** in a narrow range, struggling for momentum.
- Last week’s **high of 1.29900** remains a key resistance level.
- **Key Support Levels:**
- **1.29000 (Psychological level)** → A breakdown may trigger more downside.
- **1.2850 (Next key support)** → Watch for buying interest.
- **Key Resistance Levels:**
- **1.2990 (Last week's peak)** → A breakout could open doors for **1.3050+.**
**🌍 Fundamental Drivers**
- **USD Weakness:**
- Fears that **Trump’s tariffs could slow the US economy** weigh on the dollar.
- Weak US inflation and a **cooling labor market** increase **rate cut expectations** for 2024.
- University of Michigan’s **Consumer Sentiment Index fell** to a 2.5-year low, fueling bearish sentiment.
- **GBP Struggles Despite BoE Expectations:**
- **UK GDP contracted by 0.1% in January**, capping the pound’s upside.
- However, **expectations that the BoE will cut rates more slowly than the Fed** provide support for GBP/USD.
**📅 Key Events to Watch**
- **Monday:** US **Retail Sales & Empire State Manufacturing Index**.
- **Wednesday:** **FOMC meeting** → Market expects no rate change but will closely watch guidance.
- **Thursday:** **BoE meeting** → If policymakers signal slower rate cuts, GBP could strengthen.
**📈 Trading Strategy & Takeaways**
- **Bullish bias above 1.29300** if the dollar remains under pressure.
- **Break above 1.29400** could see GBP/USD testing **1.3050** in the short term.
- **If 1.29000 breaks,** watch for a potential dip toward **1.28500** before buyers step in.
- **Major volatility expected midweek** with FOMC & BoE—trade cautiously!
📢 **Final Word:** GBP/USD remains in a tug-of-war between a weak USD and soft UK data. Stay patient and wait for confirmation before making moves! 💹🔥 #Forex #GBPUSDhttps://www.tradingview.com/x/MSGisUmT/
Trade active
🚨 **GBP/USD Trade Update** 🚨:- **Resistance at 1.29300** broken! 💥
- Price hit **1.29900**! 📈
- Secured **60 pips** profit! 💰
Time to secure some gains 🔒 and move your stop-loss to **breakeven** to protect yourself while letting the trade ride. 🚀
Stick to your **risk management** and stay disciplined 💡. More opportunities are always on the horizon! 🌟
Trade closed: target reached
hit 1.3000 target reached successfully all trades close with the profit of 70+ pips with risk management process 
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.
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.