On GBP/USD, we have a bearish setup after the US GDP data surprised expectations, causing the dollar to gain strength. Following two days of meetings between the Federal Reserve (Fed) and the European Central Bank (ECB), the market has finally broken out of a trading contraction and regained its normal volatility.
Currently, I anticipate a minor price retracement to the level of 1.2835, where we have a 'forex48 block,' a point of high sensitivity where the price could reverse direction and move downwards towards 1.26. Once the price returns to the 'block' level, I will wait for the appropriate confirmations before entering a short position.
Have a good evening from Nicola, the CEO of Forex48 Trading Academy.
Currently, I anticipate a minor price retracement to the level of 1.2835, where we have a 'forex48 block,' a point of high sensitivity where the price could reverse direction and move downwards towards 1.26. Once the price returns to the 'block' level, I will wait for the appropriate confirmations before entering a short position.
Have a good evening from Nicola, the CEO of Forex48 Trading Academy.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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.