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As inflationary pressures loom on the UK economy, the Bank of England Governor is hinting at their willingness to raise interest rates to meet the inflation target. How are the participants in this market going to react to this statement in the new week?
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
As inflationary pressures loom on the UK economy, the Bank of England Governor is hinting at their willingness to raise interest rates to meet the inflation target. How are the participants in this market going to react to this statement in the new week?
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
With the appearance of a bullish gap; the week started on a bullish note. Though I have missed this bullish move that broke out of a strong psychological level at $1.12500 level, lets see if the market will present a second chance at a retest of structure to join the potential rally. So the bullish trend line will guide our actions going forward, where a breakdown could result in a momentum shift.Good morning
Trade active
UPDATERetest of structure happening as above $1.12500 looks promising for buying opportunities
Trade active
Over 100pips in profit; securing positionTrade active
Over 130pips in profit; securing the position.Another structure was identified at $1.13500; so we need to see how price action is going to relate to this structure in other to decide if it is a trend continuation or a reversal pattern that will plummet price.
Trade active
Buy position secured.Despite expecting a bullish trend continuation (trendline), the rejection of the $1.14000 level for the fourth time in 3 weeks is a sign that sellers are still strong at this juncture in the market hence if a breakdown/retest of the $1.13500 happens then we want to fall with the price.
Good morning
Trade active
Taken out of the buy position with 90pips profit as the price finally breaks down the $1.13500 level which shares a confluence with the bullish trendline. As long as the price remains below the $1.13500 level, selling the Pound looks reasonable. So, looking for structure in the lower time frame to join the decline.Trade active
Retest of structure is happening as below the $1.13500 level is good for selling from this juncture.Trade active
However, if a breakout/retest of the $1.13500 level happens, we want to join the potential trend continuation to the upside.Trade active
Sellers continue to dictate the pace as this set-up has the potential for multiple entries.Good morning
Trade active
UPDATETrade active
UPDATEPosition secured; looking forward to adding one more position
Good morning
Trade active
Bullish momentum coming in.... Ensure that some profit has been locked in.Going in for the live session now, Update coming soon
Trade active
Taken out of the two positions with a total of 90 pips as price breaks out of the trendline. Now, the price is at a critical juncture in the market as we need to be patient to see if this breakout is a true or false one before making any informed decision here. Update coming soon....Trade active
UPDATESelling pressure
Trade smart. Trade consciously
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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.
Trade smart. Trade consciously
Related publications
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.