British Pound / U.S Dollar (gbp/usd)
with rising inflation being a global issue the U.S dollar has proven to be few of the financial assets that are a good hedge against inflation. The British Pound has taken a beating against the dollar reaching 1985 low @ 1.05200 before correcting to 1.14400 price areas.
Intraday Outlook :
price gave a third touch on bearish trendline acting as dynamic resistance failing to form a full OHLC candlestick above it to indicate breakout and has since fell ≈-2.23% to current price despite daily demand level @ 1.11600 being in control of price, this indicates that there is not enough bullish momentum present in current market state with bears seeming to increase in volume as also price is trading below bullish trendline.
price is trading below liquidity pool ranging from 1.12400 to 1.12200 where i have short positions of 1:3 risk, reward with targets at daily demand of proximal price @ 1.08900.
The Nobel Prize in economics belongs to Satoshi Nakamoto
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
with rising inflation being a global issue the U.S dollar has proven to be few of the financial assets that are a good hedge against inflation. The British Pound has taken a beating against the dollar reaching 1985 low @ 1.05200 before correcting to 1.14400 price areas.
Intraday Outlook :
price gave a third touch on bearish trendline acting as dynamic resistance failing to form a full OHLC candlestick above it to indicate breakout and has since fell ≈-2.23% to current price despite daily demand level @ 1.11600 being in control of price, this indicates that there is not enough bullish momentum present in current market state with bears seeming to increase in volume as also price is trading below bullish trendline.
price is trading below liquidity pool ranging from 1.12400 to 1.12200 where i have short positions of 1:3 risk, reward with targets at daily demand of proximal price @ 1.08900.
The Nobel Prize in economics belongs to Satoshi Nakamoto
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
