GBP/USD trend forecast November 4, 2024
The GBP/USD pair rises to around 1.2970 during Monday’s Asian session, aided by a weaker US Dollar (USD). The USD faces pressure after October's soft US Nonfarm Payrolls (NFP) data, supporting the pair's gains. Following a 50 bps rate cut in September that initiated the easing cycle, the US Federal Reserve (Fed) is expected to lower rates by 25 bps in its November meeting, with markets assigning a 97% probability to this move. The Dollar weakens as traders prepare for the US presidential election and the Fed’s rate decision this week.
There was no USD and GBP news data at the beginning of the week, the price recovered and hit the H1 resistance, along with the 2nd GAP. DOWN to fill liquidity, stabilize the price trend during the week.
/// SELL GBP/USD : zone 1.29970 - 1.30200
SL: 1.30500
TP: 60 - 120 - 200 pips (1.28200)
Safe and profitable trading
The GBP/USD pair rises to around 1.2970 during Monday’s Asian session, aided by a weaker US Dollar (USD). The USD faces pressure after October's soft US Nonfarm Payrolls (NFP) data, supporting the pair's gains. Following a 50 bps rate cut in September that initiated the easing cycle, the US Federal Reserve (Fed) is expected to lower rates by 25 bps in its November meeting, with markets assigning a 97% probability to this move. The Dollar weakens as traders prepare for the US presidential election and the Fed’s rate decision this week.
There was no USD and GBP news data at the beginning of the week, the price recovered and hit the H1 resistance, along with the 2nd GAP. DOWN to fill liquidity, stabilize the price trend during the week.
/// SELL GBP/USD : zone 1.29970 - 1.30200
SL: 1.30500
TP: 60 - 120 - 200 pips (1.28200)
Safe and profitable trading
Trade active
Green profits started - prices started to fallOrder cancelled
+ 20 pips profit signal SELL GBPUSD( 1.29970 - 1.30200) Trade closed: target reached
+ 30 pips profit signal SELL GBPUSD( 1.29970 - 1.30200), nice SELLTrade active
+ 45 pips profit signal SELL GBPUSD( 1.29970 - 1.30200), amazing 
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MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
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.