GBPUSD turns positive for the fourth straight week but this time around did a significant breakout of the 1.25000 level - climbing to a two-week high on Friday to set the tone for a bullish momentum ahead of the new month. However, bets for another 25 bps rate hike by the US Fed Reserve in the coming week could tilt an imbalance in the market influx. It is also important to note that the coming week is laced with a handful of high-impact macroeconomic event that could incite a choppy situation in this market.
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.
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.
Note
The new month has started on a bearish note and this could be the beginning of a retracement of the bullish impulse leg; at the same time, we can not ignore the possibility of this current structure transitioning into a trend continuation pattern. So, we are waiting for signalsGood morning
Trade active
Fall out from our live session this morning; secure the sell positionTrade active
Trade active
Selling pressure continuesTrade active
Secure all sell positions as buying pressure is observedTrade closed manually
After being taken out of the sell position with a small profit; the buying pressure observed around the 1.24840 zone coupled with a breakout of the key level at the 1.25000 level will be welcoming buying opportunities.Good morning
Trade active
Fall out from our live session this morningTrade active
UPDATETrade active
All sell positions must be secured now as buying opportunities could come in any time soon.Trade active
The much-awaited bullish momentum appears to be gaining momentum as price action triggers our first buy position for the week at the breakout of 1.24840 as we look out for more opportunities. We shall talk about this in detail during our live session.Good morning
Trade active
Fallout from our live session this morningSecure all buy positions
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The fallout from the just concluded live session.Selling pressure resumes as we get closer to the first main event of the day;
Trade active
Secure sell positionTrade active
buying pressure resumesTrade active
Secure the buy position as the trendline remains our guideTrade active
Price action is right back into the range where bearish momentum started at the beginning of the week. So, the setup on the chart is now our guide for trading orders. It's 3 minutes into the Fed Reserve announcement!Trade closed manually
All buy positions out as selling pressure continuesNote
A breakout of the 1.257000 will need confirmationNote
Price action finally breaks out of the range identified at the beginning of the week (1.25700 & 1.25420) but has since been resisted by selling pressure at the 1.25910 Zone. We are going to monitor how price action reacts to this zone. A breakdown of the 1.25700 followed by rejection of this zone will probably incite selling opportunities. Good morning
Note
Fallout from today's live sessionNote
Just as discussed during our live session; Be on standbyTrade active
Buying pressure still exist as price remain above our trendlineNote
UPDATETrade active
Secure the buy position as buying pressure continues ahead of the NFP data coming up later in the day. Please note that the trendline still remains the yardstick that guides our trading activities today.Good morning
Trade active
US Non-farm Payrolls surprised to the upside revealing that the US economy added 253K jobs during the month of April, surpassing initial estimates for a gain of 180K jobs. The US Dollar gains traction, secure the sell position as we look forward to more opportunities.Trade closed manually
Price action takes out all the sell position as buying pressure resumesTrade active
Secure buy position
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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.