My previous GBP/USD signal on 22nd February produced a slightly profitable long trade from the bullish reversal at the support level.
from this price range between $1.2150 and $1.2058 – I thought that if it broke down, the price would reach $1.2000, although short trades would be more difficult.
This was a good call as once the price got established below $1.2058 it continued to move down over the week, but in a bit of a choppy descent. The technical picture has become even more bearish as the strong US Dollar and Japanese Yen, as safe-haven currencies, sweep everything before them in the current risk-off market environmentThe price is much more about the US Dollar than the British Pound.
Technically, we are seeing a significant bearish development, with the price breaking down below the key support level at $1.1936. If the first two hours of the London session are consecutive lower closes below $1.1936 I will be happy to enter a short tradeIf the price quickly recovers and spends the first part of the London session trading back above $1.1936, that would be a minor bullish sign, but I would not want to take a long trade today in this currency pair under any circumstances.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Pairs in Focus This Week \u2013 EUR/USD, GBP/USD, USD/JPY, AUD/USGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of February 26th, 2022 here.
Weiterlesen »
GBP/USD: Weekly Forecast 26th February - 4th MarchThe GBPUSD went into the weekend around the 1.19390 ratios having experienced a rather strong exhibition of selling on Friday- trading forextrading
Weiterlesen »
GBP/USD Price Analysis: Downside looks favored as US PCE data supports more rates from FedGBP/USD Price Analysis: Downside looks favored as US PCE data supports more rates from Fed GBPUSD Fed RiskAversion ChartPatterns SupportResistance
Weiterlesen »
GBP/USD struggles to justify Brexit hopes around 1.1950 amid hawkish Fed concernsGBP/USD picks up bids to refresh intraday high near 1.1955, printing mild intraday gains during Monday’s mid-Asian session after declining in the last
Weiterlesen »
GBP/USD Price Analysis: Cable bears keep 1.1930 on radar as key Brexit announcements loomGBP/USD Price Analysis: Cable bears keep 1.1930 on radar as key Brexit announcements loom GBPUSD Technical Analysis Breaking RiskAppetite SwingTrading
Weiterlesen »
GBP/USD: Further losses seen below 1.1870 – UOBIn the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD is expected to accelerate losses on a break below
Weiterlesen »