Product: GBP/USD
Prediction: Increase
Fundamental Analysis:
GBP/USD dropped sharply on Tuesday, reaching its lowest level in over a week after disappointing U.S. ISM Purchasing Managers Index figures. Geopolitical tensions escalated as reports emerged of Iran firing
on Israel, which further reduced risk appetite. The pair is under bearish pressure, trading below 1.3350 after failing to stabilise above 1.3400 on Monday. Its technical outlook indicates a bearish trend in the near term. Although GBP/USD briefly rose above 1.3400 during European trading on Monday, it lacked momentum, and the U.S. Dollar held firm, erasing the pair's gains. As of Tuesday, GBP/USD continues to decline with the USD recovering. Later, the U.S. will release JOLTS Job Openings data and the ISM Manufacturing PMI report. Powell noted that a drop in job
openings below 7 million could weaken the USD, while a figure above 8 million might strengthen it, impacting GBP/USD accordingly.
Technical Analysis:
GBP/USD has fallen below the lower boundary of the ascending regression channel that has been in place since September 11. The Relative Strength Index on the 4-hour chart has also declined toward 40,
indicating a bearish shift in the short-term outlook. On the downside, 1.3300 serves as interim support, followed by 1.3275 and 1.3240-1.3230. If GBP/USD returns to the ascending channel by reclaiming 1.3350, the next resistance levels could be 1.3400 and1.3440
Register link:
https://5kn3tx0o0.kvbii.com
#KVB# #technicalanalysis# #fundamentalsanalysis# #Signals# #ApaCopyTradingMenguntungkan# #XAU/USD# #GBP/JPY#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.