Recent fundamental news release has provided bullish momentum for GBPUSD:
Positive UK Economic Data: The latest UK economic report, such as stronger-than-expected GDP, inflation data, or PMI, signals economic resilience and supports the pound.
USD Weakness: Recent U.S. economic data may have disappointed expectations, leading to a weaker dollar as traders anticipate less aggressive Fed policies.
Risk-On Sentiment: Broader market sentiment favors riskier assets, driving inflows into GBP and out of the safe-haven USD.
Technical Setup:
morning star on 5 min
Hammer on 15 min
retracement into 50/61.8% fib levels
Place stop just below the 61.8% level
Risk-to-Reward Ratio:
1:1.5 or better.
News Impact:
Keep monitoring updates as GBP can react further to follow-up data or any statements from Bank of England policymakers.
Positive UK Economic Data: The latest UK economic report, such as stronger-than-expected GDP, inflation data, or PMI, signals economic resilience and supports the pound.
USD Weakness: Recent U.S. economic data may have disappointed expectations, leading to a weaker dollar as traders anticipate less aggressive Fed policies.
Risk-On Sentiment: Broader market sentiment favors riskier assets, driving inflows into GBP and out of the safe-haven USD.
Technical Setup:
morning star on 5 min
Hammer on 15 min
retracement into 50/61.8% fib levels
Place stop just below the 61.8% level
Risk-to-Reward Ratio:
1:1.5 or better.
News Impact:
Keep monitoring updates as GBP can react further to follow-up data or any statements from Bank of England policymakers.
Ricky Andrade also known as @RiskyRicky
(Founder of Market Masters, Inc.)
(Founder of Market Masters, Inc.)
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.
Ricky Andrade also known as @RiskyRicky
(Founder of Market Masters, Inc.)
(Founder of Market Masters, Inc.)
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.