🔔🔔🔔 GBP/USD news:
➡️ GBP/USD is holding modest bids near the 1.3200 mark during early European trading on Tuesday. Recent UK data revealed that the unemployment rate remained steady at 4% for the three months to February, while average earnings came in weaker than expected, putting downside pressure on the British pound.
➡️ After gaining nearly 1% on Friday and closing the previous week up 1.5%, GBP/USD continued its upward momentum on Monday, trading above the 1.3150 level. Although the pair’s short-term technical outlook suggests overbought conditions, investors may be hesitant to anticipate a significant pullback due to widespread selling pressure on the U.S. dollars (USD).
TheU.S. Dollar Index, which measures the greenback’s performance against a basket of six major currencies, dropped 3% last week as escalating U.S.-China trade fears of a potential U.S. economic downturn.
Personal opinion:
➡️ The uptrend is still strong while the USD is being sold.
➡️ However, the overbought zone of RSI should also be taken seriously, this will be the reaction zone of the selling side.
➡️ Analysis based on important resistance - support zones and Fibonacci combined with RSI to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell GBP/USD 1.3265 - 1.3275
❌SL: 1.3310| ✅TP: 1.3210 - 1.3160
FM wishes you a successful trading day 💰💰💰
➡️ GBP/USD is holding modest bids near the 1.3200 mark during early European trading on Tuesday. Recent UK data revealed that the unemployment rate remained steady at 4% for the three months to February, while average earnings came in weaker than expected, putting downside pressure on the British pound.
➡️ After gaining nearly 1% on Friday and closing the previous week up 1.5%, GBP/USD continued its upward momentum on Monday, trading above the 1.3150 level. Although the pair’s short-term technical outlook suggests overbought conditions, investors may be hesitant to anticipate a significant pullback due to widespread selling pressure on the U.S. dollars (USD).
TheU.S. Dollar Index, which measures the greenback’s performance against a basket of six major currencies, dropped 3% last week as escalating U.S.-China trade fears of a potential U.S. economic downturn.
Personal opinion:
➡️ The uptrend is still strong while the USD is being sold.
➡️ However, the overbought zone of RSI should also be taken seriously, this will be the reaction zone of the selling side.
➡️ Analysis based on important resistance - support zones and Fibonacci combined with RSI to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell GBP/USD 1.3265 - 1.3275
❌SL: 1.3310| ✅TP: 1.3210 - 1.3160
FM wishes you a successful trading day 💰💰💰
Trade active
GBP/USD rose to 1.3251 and fell to 1.3205not matching the 1.3265 sell zone
Cancel the 1.3265 sell strategy. As this zone has reduced the sell value
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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.