Weekly Trade Analysis - GBP/USD

in #forex7 years ago

GBPUSDDaily.png
We have noticed that price was likely to do a reversal or major retracement as it was close to weekly resistance around 1.3291 level. After USD reports were announced, price has been dropping and breaking daily swing point 1 and 2. The rise in the dollar after Friday reports has weighed heavily on euro, aussie as well as sterling, as all the currencies gave back recent gains. However, the pound will still remain vulnerable after the Bank of England left interest rates on hold at record lows and cut its economic growth forecast for this year and next. In this week, following our technical trading analysis, we will be looking for sell as valid break of 2 swing points has occurred in daily chart, indicating confirmation of trend reversal.

Sort:  

Congratulations @forexloveu! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published your First Post

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

welcome to steemit hahaha

Congratulations @forexloveu! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You made your First Comment
You got a First Vote

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!