GBP/USD bullish move recovery on H4 timeframe must read caption.
GBP/USD will retrace from here now and will recover itself I have prepared this chart for and it displays the GBP/USD pair on a 4-hour timeframe. It shows a long-term downtrend from mid-2024 to early 2025. A support level, previously established in an earlier timeframe, is marked near the 1.2200-1.2400 price level. This area serves as a buy entry point, with a target for potential upward price movement indicated.
The pair has recently tested the support zone, suggesting a possible rebound. However, its performance is sensitive to external factors such as economic and political developments in the UK and the US.
UK Market-Affecting News:
1. Economic Data:
GDP Growth: The UK has recently reported slower economic growth, raising concerns about a potential recession.
Inflation: Persistent inflationary pressures are impacting consumer spending and business confidence.
BoE Monetary Policy: The Bank of England's decision to pause or raise interest rates in light of slowing growth and high inflation could influence GBP/USD.
2. Social Factors:
Cost-of-Living Crisis: Rising energy bills and food prices are putting pressure on household budgets, dampening economic activity.
Strikes and Protests: Various sectors are experiencing labor strikes, creating additional uncertainties for businesses and supply chains.
3. Political Uncertainty:
Discussions on post-Brexit trade agreements, especially related to Northern Ireland, continue to weigh on investor sentiment.
4. Global Factors:
Any signs of a US Federal Reserve pivot or sustained hawkishness will directly affect the dollar and, by extension, the GBP/USD exchange rate.
These factors should be considered but along with analysis I have shown in the above chart.
Key levels:
Buy GBP/USD from; 1.21400-1.21200
Target at; 1.23100
SL at; 1.20010
Kindly support me guys if you found this helpful for you. Like comment and share this idea with friends.
Share your thoughts in comments below.
The pair has recently tested the support zone, suggesting a possible rebound. However, its performance is sensitive to external factors such as economic and political developments in the UK and the US.
UK Market-Affecting News:
1. Economic Data:
GDP Growth: The UK has recently reported slower economic growth, raising concerns about a potential recession.
Inflation: Persistent inflationary pressures are impacting consumer spending and business confidence.
BoE Monetary Policy: The Bank of England's decision to pause or raise interest rates in light of slowing growth and high inflation could influence GBP/USD.
2. Social Factors:
Cost-of-Living Crisis: Rising energy bills and food prices are putting pressure on household budgets, dampening economic activity.
Strikes and Protests: Various sectors are experiencing labor strikes, creating additional uncertainties for businesses and supply chains.
3. Political Uncertainty:
Discussions on post-Brexit trade agreements, especially related to Northern Ireland, continue to weigh on investor sentiment.
4. Global Factors:
Any signs of a US Federal Reserve pivot or sustained hawkishness will directly affect the dollar and, by extension, the GBP/USD exchange rate.
These factors should be considered but along with analysis I have shown in the above chart.
Key levels:
Buy GBP/USD from; 1.21400-1.21200
Target at; 1.23100
SL at; 1.20010
Kindly support me guys if you found this helpful for you. Like comment and share this idea with friends.
Share your thoughts in comments below.
Note
Market touched 1.225 our target is about to be reached.
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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.
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.