GBPUSD
A bearish divergence is observed on daily chart which may lead it to a price drop due to the following reasons:
UK Economic Concerns: News and data releases indicating slower UK economic growth or rising inflation could weaken the Pound. Keep an eye on any upcoming reports about UK's Producer Price Index (PPI) data. If it comes in lower than expected, it could signal weaker inflationary pressures, but also potentially slower growth.
Resistance Levels: The GBPUSD recently faced resistance around 1.2816. If it fails to break through this level, it could indicate a potential decline.
Let's monitor.
UK Economic Concerns: News and data releases indicating slower UK economic growth or rising inflation could weaken the Pound. Keep an eye on any upcoming reports about UK's Producer Price Index (PPI) data. If it comes in lower than expected, it could signal weaker inflationary pressures, but also potentially slower growth.
Resistance Levels: The GBPUSD recently faced resistance around 1.2816. If it fails to break through this level, it could indicate a potential decline.
Let's monitor.
Trade active
Trade triggered, lets wait and watch now.Trade closed: stop reached
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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.