GBPUSD | Perspective for the new week | Follow-up
Updated
Following a profitable week for us, the Pound tested a seven-week high of the 1.23500 zone during the course of last week's trading session. The BoE raised interest rate by 25bps on Thursday to a new 15-year high of 4.25%, an attempt to tame double-digit inflation in the UK and the Sterling rose 0.5% against the dollar on the back of the news but was unable to hold the momentum as price action broke down the trendline that has been supporting the bullish momentum in the last couple of weeks. The Dollar steadied as a result of this development as confidence in the banking sector remained fragile. In this video, we analyzed the charts from a technical standpoint to figure out tendencies of price action in the coming week(s).
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 week has started on an indecisive note as price action remains trapped within the 1.22500 and 1.22300 range. A breakout or breakdown of the channel is the signal we are waiting for.Good morning
Trade active
Trade active
price action takes out the buy position as selling pressure resumes. Remember what we said during our live session today, where we acknowledged the bullish trendline as our yardstick for trading activities today.Trade active
Secure buy position as bullish trendline remains our guideTrade active
Secure all buy positions as we look forward to more trading opportuntiesTrade active
A total of 110pips in profit with two positions running. Secure all sell positions as selling pressure resumes along the resistance line of the ascending channel.Good morning
Trade active
Secure sell positionNote
Price action takes out the sell position as buying pressure resumes. Our projection during our live session this morning was to look out for buying opportunities at the breakout/retest of the 1.23500 level.Note
No position triggered yet as selling pressure continues from the 1.23500 level. We shall be discussing this in detail during our live session.Good morning
Note
Trade closed: stop reached
Stop-loss hit. A breakout/retest of the 1.23500 level will welcome buying opportunitiesTrade active
Trade active
Trade closed manually
After being taken out of the sell position at break even, the appearance of buying pressure here has a tendency of breaking out of the 1.23500 level for buying opportunities.GGood morning
Trade active
Just as we discussed during our live session this morning, secure the buy position and wait ONLY for a breakout and retest of the 1.23620 for buying opportunities. Update coming soonTrade active
Trade active
Secure all buy positions as we look forward to more opportunitiesTrade active
Sevcure buy positions as selling pressure resumes. We'll discuss this in detail during our live session this morningGood morning
Trade active
Reminder of our conclusion during our live studio session todayTrade active
Secure sell positionsTrade active
Trade smart. Trade consciously
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