GBPUSD ( Bullish Run )
Good morning and happy Sunday to everyone!
Last week the market continued upwards after dropping from a previous order block zone on the daily.
It seems inflation is lowering for the moment being, and the fed is eyeing interest rates and may soon be making a decision to cut them in the near future.
I of course am waiting for the FOMC Meeting on Tuesday, and shortly after that Unemployment Claims, along with the revised UoM Consumer Sentiment on Wednesday.
Unemployment Claims are forecasted at 226K
with a previous of 231K.
Now remember something I've been stating for the last few months, bad news = good news.
Only in the case of fighting inflation.
I am bullish on GU at the moment and have been for the previous month.
On the monthly chart we are bearish and weekly is approaching a bearish order block that may send GU all the way back down.
Order blocks combined with news and retail sentiment, is pointing up at the moment for GU.
As always, may you all have a profitable week and Happy Thanksgiving!
We make our own luck over here.
- PatientWealth.
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