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GBP/USD Breaks Key Resistance: Targeting 1.2800 GBP/USD is trading at approximately 1.2580. Your target price of 1.2800 suggests an anticipated upward movement of over 200 pips, indicating a bullish outlook. The pair has recently broken above a significant resistance level, and the next key resistance is identified at 1.2800, which could potentially act as a barrier and prompt a downward correction. Technical analysis reveals that GBP/USD has exited a multi-month downtrend, with the January rebound extending nearly 4.4% from the yearly low. This upward momentum suggests potential for further gains; however, traders should be cautious as the 1.2800 resistance level may trigger selling pressure, leading to a possible retracement. Fundamentally, the UK's economic landscape is experiencing shifts. Inflation is expected to rise to 2.8% in January, influenced by factors such as the introduction of VAT on private school fees and increased airfares. This follows the Bank of England's recent 25 basis point rate cut, aimed at stimulating economic activity. Conversely, the U.S. economy shows resilience, with strong economic data suggesting that further interest rate cuts by the Federal Reserve are unlikely. In summary, while the GBP/USD pair exhibits bullish momentum with a potential target of 1.2800, traders should remain vigilant. The 1.2800 resistance level may serve as a critical point, possibly leading to a downward correction. Monitoring upcoming economic data releases and central bank communications will be essential in making informed trading decisions.
Long
by AndrewsMarket-Mastery
1
USDCHF Will Go Down From Resistance! Short! Take a look at our analysis for USDCHF. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 0.898. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 0.889 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
EURAUD Will Go Down! Sell! Here is our detailed technical review for EURAUD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.651. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.636 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
AUDNZD Will Move Lower! Short! Take a look at our analysis for AUDNZD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 1.108. The above observations make me that the market will inevitably achieve 1.104 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
doge sell midterm"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
Short
by Golden_candle