GBPUSD: Bearish Outlook on Fundamental and Structure Analysis
GBPUSD: Bearish Outlook Based on Fundamentals and Structure Analysis
On Friday, before the press conference, everything moved aggressively against the USD. It was a strange move because it happened suddenly without any news and before Powell said hello.
At the time Powell sent the rate cut message, the USD did not strengthen. However, the market expected a rate cut in September and that is why the USD was strong during the week.
I also read that the market is pricing in a rate cut, but these words are just like old legends now, as the USD priced in this rate cut several times and is very cheap so far. The rate cut was great news.
Technical Analysis:
GBPUSD hit two of our targets from the previous analysis and bounced back higher on Friday.
Considering all of the above, despite the USD being weak, I think GBPUSD could fall back down from the red soon, following the old scenario. This structure zone located near to 1.3590 proved to be strong and it can push the price back down again.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
On Friday, before the press conference, everything moved aggressively against the USD. It was a strange move because it happened suddenly without any news and before Powell said hello.
At the time Powell sent the rate cut message, the USD did not strengthen. However, the market expected a rate cut in September and that is why the USD was strong during the week.
I also read that the market is pricing in a rate cut, but these words are just like old legends now, as the USD priced in this rate cut several times and is very cheap so far. The rate cut was great news.
Technical Analysis:
GBPUSD hit two of our targets from the previous analysis and bounced back higher on Friday.
Considering all of the above, despite the USD being weak, I think GBPUSD could fall back down from the red soon, following the old scenario. This structure zone located near to 1.3590 proved to be strong and it can push the price back down again.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
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.