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Gbp-usd

GBPUSD Analysis and Update by WE TRADE WAVESHey Traders, looks like GBPUSD is going to make an Exp flat for another move up. Make sure to not jump in if market goes to 1.23 level and always use proper risk management. P.S. Without a setup we will not enter. So we will be looking for our buy setups and we will ignore any sell setups from current level, if structure changes we will update you If you want us to post more charts, setups and explain more about the next move, make sure to follow us, like and comment. What we are sharing here is only our point of view on what could be the next move in the market based on our wave analysis concept so this is a directional bias and not signals... DO NOT FORGET "We Trade Waves" 4 GOLDEN RULES: 1) Do not over-risk 2) Do not over-trade 3) Do not trade without stop loss 4) Never ever add to losing position DISCLAIMER: We Trade Waves is not a signal service. Instead, it involves sharing our perspective and detailed analysis based on our unique wave analysis concept. We cannot be held responsible for any financial gain or loss that may result from following our analysis. Trade with care We Trade Waves Team
Long
by WeTradeWAVES
4
GBP/USD:Possible Double Top on Daily ChartThe price is now testing the previous higher high with a possible double top and the pair may move to the 61.8% Fibonacci retracement level meeting old support. A break here opens the risk of a strong drop as we progress through the week. However, there is important data on the calendar from the US economy and investors may be sitting on their hands until then. Looking forward, the UK Producer Price Index (PPI) details for January may entertain GBP/USD traders ahead of Thursday’s key US Q4 GDP and the next week’s Fed meeting.
by FOREXN1
5
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