GBPUSD | Perspective for the new week | Follow-up
Updated
British consumers remain affected by an elevated inflation rate, which stayed in double digits in March. Comments from a couple of Fed policymakers pointed to the US central bank raising interest rates by 25 basis points in early May, judging that inflation is still at problematic levels and monetary policy needs to be tightened. The market's immediate reaction to these sentiments has been positive as the US Dollar edged higher Friday and looks set to a bearish tone for the GBPUSD in the coming weeks. However, technical levels on the chart around the 1.23600 zone suggest bears need a whole lot of momentum and fundamental stimulus to break through this zone first as it does have a strong memory for buying power. With no high-impact fundamental stimulus from the UK docket in the coming week; the video illustrates what to look for in the current market structure to signal a buy or sell move this week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The new week has started oon a bearish note but Market structure on the 1H timeframe still has a potential of going bullish at the breakout/retest of the 1.24550 level. However a breakdown/retest of the 1.24100 level will welcome selling opportunities.GOod morning
Trade active
Buy position triggeredTrade active
Secure the buy positionNote
Trade closed manually
After being taken out of the buy position with a small profit, we are going to be patient to see how price action reacts to the structure that was broken yesterday around the 1.24550 level to decide what our next line of action will be. Update coming up soonGood morning
Note
Fall out from our live session, a simple set-up identified on the 15 minute time frameTrade active
UPDATETrade active
Secure sell positionsTrade closed manually
Price action takes out all sell positions as it gradually comes back to our key level at the 1.24450 zone. We want to see how price action reacts to this level for the next line of action.Good morning
Trade active
Fall out from our live session30-minute OUTLOOK
Trade active
Secure the buy position as selling pressure could resume anytime soon. Selling opportunities below the 1.24550 level is still on our radarTrade active
Secure all buy positions as buying pressure gets strongerTrade active
After being taken out of the buy position, we are going back to the status quo. The illustration on the chart remains valid.Trade active
Secure sell positionTrade closed manually
Out of all positions! Patience is required at this point as we continue to monitor price for signals illustrated on the chart.Good morning
Trade active
Fall out from our live session45-minute outlook
Trade active
volatility kicks in following the below-expectation GDP data.Trade active
Buying pressure resumes as sellers found it difficult to break down the 1.24400 level. Breakout/retest of the 1.24850 welcomes buying opportunities.Trade active
Buying pressure resumes as sellers found it difficult to break down the 1.24400 level. Breakout/retest of the 1.24850 welcomes buying opportunities.Trade active
Secure buy positionTrade closed manually
The buy position was taken out as selling pressure resumes within the 1.25100 zoneGood morning
Note
Buying pressure resumes, waiting for confirmationTrade active
Secure buy positionTrade active
UPDATEClose to TP target
Trade smart. Trade consciously
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