🔔🔔🔔 GBP/USD news:
➡️ Despite a weaker U.S. dollar, GBP/USD continues to trade within a narrow range of 1.3220–1.3230, giving up most of its intraday gains after reaching a multi-month high near 1.3300. The British pound's advance was capped by softer-than-expected UK inflation data released on Wednesday, which dampened bullish momentum.
➡️ Meanwhile, the U.S. dollar struggles to attract demand as recent headlines surrounding U.S.-China trade relations reignited fears of escalating tensions. According to a Wall Street Journal report late Tuesday, the Trump administration is planning to use ongoing tariff negotiations as leverage to pressure U.S. trade partners to reduce their dealings with China.
Personal opinion:
➡️ The uptrend of this currency pair has slowed down, and DXY is showing signs of recovery today, so GBP/USD will have a short-term decline.
➡️ Analysis based on important resistance - support and Fibonacci levels combined with SMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell GBP/USD 1.3220 – 1.3230
❌SL: 1.1435 | ✅TP: 1.3180 – 1.3130
FM wishes you a successful trading day 💰💰💰
➡️ Despite a weaker U.S. dollar, GBP/USD continues to trade within a narrow range of 1.3220–1.3230, giving up most of its intraday gains after reaching a multi-month high near 1.3300. The British pound's advance was capped by softer-than-expected UK inflation data released on Wednesday, which dampened bullish momentum.
➡️ Meanwhile, the U.S. dollar struggles to attract demand as recent headlines surrounding U.S.-China trade relations reignited fears of escalating tensions. According to a Wall Street Journal report late Tuesday, the Trump administration is planning to use ongoing tariff negotiations as leverage to pressure U.S. trade partners to reduce their dealings with China.
Personal opinion:
➡️ The uptrend of this currency pair has slowed down, and DXY is showing signs of recovery today, so GBP/USD will have a short-term decline.
➡️ Analysis based on important resistance - support and Fibonacci levels combined with SMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell GBP/USD 1.3220 – 1.3230
❌SL: 1.1435 | ✅TP: 1.3180 – 1.3130
FM wishes you a successful trading day 💰💰💰
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
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.