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Gbp-usd

GBP/USD drops toward 1.2300 on disappointing UK Services PMIGBP/USD drops toward 1.2300 on disappointing UK Services PMI After December’s impressive services PMI print, markets hoped for another encouraging print for January given a slightly improved outlook now that inflation appears to be headed in the right direction. This wasn’t to be the case as the new year brought with it a sustained downturn in the UK private sector business activity. Survey respondents pointed to higher interest rates and lower consumer confidence as key determinants of the lower activity as Britain grapples with the ongoing cost of living crisis. The services sector experienced the worst decline in business activity over the last two years up to this point. The report adds to the recent, disappointing UK retail sales data which plummeted over the holiday period as consumers tightened their belts. One small piece of good news came in the form of the manufacturing data, which beat expectations coming in at 46.7 vs 45.5 expected. However, this wasn’t enough to appease the FX market as the sterling traded around 50 pips lower after the release. The Bank of England will meet next week to discuss another 50 basis point hike to stem demand and help inflation move down further. Fresh in their minds will be the fastest pace of average earnings since 2001 which raises alarm bells of a wage-price spiral – something central bankers look to avoid at all costs
by FOREXN1
3
RLinda ! GBPUSD-> Price in the correction start zoneGBPUSD is in a strong uptrend. The price is again trading in the price channel and again confirms its boundaries The chart shows the key element, the price channel and the level of 1.23442. Previously, the price made a false break-through of the channel resistance, returned to the range and could not break through it on the retest, now the level 1.2344 takes up all the pressure, should it break-down, correction stage may start and we might see the price fall to 1.2153 area. I assume that the price may slightly retreat from the correction zone to the area of 1.215-1.210. I expect consolidation under 1.234 and formation of the entry point for the sale. Regards R.Linda!
by RLinda
17
GBP/USD:Price continues to Grow - Next target LONG 1.26000THE GBP/USD is still inside a strong bullish rally, a raising channel with the creation of new Higher-highs and Higher-lows has guided the pair to reach 1.2400 where today the price seems ready to make new higher-highs. Economists at ING note that the Pound could thrive in the long term as the Labour party leader aims to rebuild good trade relationships with the bloc. The leader of the opposition Labour Party, Keir Starmer, is reported to deliver a rather conciliatory speech in Davos today about the future of EU-UK relationships. The Labour party is leading by a rather large margin in the latest opinion polls ahead of next year’s general elections and evidence of a softer stance on Brexit should benefit the Pound in the long run.
Long
by FOREXN1
27
GBPUSD for a higher high? 🦐GBPUSD on the 4h chart after the test of the 1.18500 zone inverted the trend. The market created a new higher high and started a series of bullish impulses. How can i approach this scenario? The price is now testing a weekly resistance and IF the market will break above we can set a nice long order according to the Plancton's strategy rules. ----- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
6
💷 GBP/USD | LONG SIGNAL ✅Pushing a long signal on the GPB/USD expecting price to take out the designated profit target off the back of a hawkish CPI print out of the US this morning when compared to forecasted increases in domestic CPI out of the UK due to sustained energy constraints, this potential interest rate differential will likely result in significant liquidity shifts into the cable today as investor sentiment regarding further rate rises out of london may begin to cement into the market.
Long
by Doxbin