🔔🔔🔔GBP/USD news:
➡️ GBP/USD continues to climb, approaching the 1.3100 mark during European trading, as the persistent weakness in the U.S. dollar remains a key market driver. Escalating concerns over the deepening U.S.-China trade conflict and its potential to trigger a U.S. trade conflict. recession are weighing heavily on sentiment.
➡️ Broad-based selling pressure on the U.S. dollar followed China's retaliatory move to raise tariffs on American goods from 34% to 84%, supporting further gains in the GBP/USD pair.
Although Trump has temporarily paused additional tit-for-tat tariffs, investor anxiety over the U.S. Economic outlook remains elevated, with fears that trade tensions with China will intensify. As a result, the dollar remains under fresh downward pressure, allowing GBP/USD to regain bullish momentum.
Personal opinion:
➡️ DXY is showing signs of recovery after entering the extreme oversold zone. As a result, GBP/USd will have a downward phase after entering the overbought zone.
➡️ Analysis based on resistance - support levels and Volume profile combined with trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell GBP/USD 1.3080 – 1.3090
❌SL: 1.3120| ✅TP: 1.3020– 1.2970
FM wishes you a successful trading day 💰💰💰
➡️ GBP/USD continues to climb, approaching the 1.3100 mark during European trading, as the persistent weakness in the U.S. dollar remains a key market driver. Escalating concerns over the deepening U.S.-China trade conflict and its potential to trigger a U.S. trade conflict. recession are weighing heavily on sentiment.
➡️ Broad-based selling pressure on the U.S. dollar followed China's retaliatory move to raise tariffs on American goods from 34% to 84%, supporting further gains in the GBP/USD pair.
Although Trump has temporarily paused additional tit-for-tat tariffs, investor anxiety over the U.S. Economic outlook remains elevated, with fears that trade tensions with China will intensify. As a result, the dollar remains under fresh downward pressure, allowing GBP/USD to regain bullish momentum.
Personal opinion:
➡️ DXY is showing signs of recovery after entering the extreme oversold zone. As a result, GBP/USd will have a downward phase after entering the overbought zone.
➡️ Analysis based on resistance - support levels and Volume profile combined with trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell GBP/USD 1.3080 – 1.3090
❌SL: 1.3120| ✅TP: 1.3020– 1.2970
FM wishes you a successful trading day 💰💰💰
Trade active
on schedule with the original planTrade closed: target reached
China retaliated with a 125% tariff after the U.S. raised its own to 145%, with Beijing dismissing the move as "a joke." Meanwhile, U.S. consumer confidence fell to 50.8, accompanied by a sharp rise in both short-term and long-term inflation expectations. In contrast, the UK economy outperformed forecasts with a 0.5% GDP growth in February, helping to offset global uncertainty and boosting the British pound.Amid this backdrop, trade uncertainty has pushed GBP/USD above the 1.3145 level, creating the potential for a retest of the six-month high reached on April 3 at 1.3200.
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Join now !!!!
Channel: signals - knowledge and FOREX comments
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Channel: signals - knowledge and FOREX comments
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.