GBP/USD – Week 7 – Waiting the bears.
Updated
The British Pound increased its gains against the US Dollar with the price breaking the top once more, creating some small bullish sentiment as 4th quarter GDP numbers beat market expectations. Last week we expected a price reversal to happen with the new high that was created, but it seems it has a bit more room left for some new higher highs.
For this week we expect the Pound to create new higher-highs, but our focus will remain on the bearish sentiment that will dominate the pair for a while and could push the price through the support areas highlighted on the chart.
Keep an eye on Wednesday CPI data number release for the GBP. as it could impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week we expect the Pound to create new higher-highs, but our focus will remain on the bearish sentiment that will dominate the pair for a while and could push the price through the support areas highlighted on the chart.
Keep an eye on Wednesday CPI data number release for the GBP. as it could impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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